Economy
Two proposals to spend $9.1 million to repair the CTA’s Lake Street bridge and the Dearborn Street subway stalled Tuesday amid objections from aldermen about efforts to hire firms owned by female, Black and Latino Chicagoans.
City officials are working to craft a plan to fill a projected $1.2 billion budget shortfall in the 2021 fiscal year — without the hope of more aid from the federal government.
President Donald Trump abandoned COVID-19 relief talks on Tuesday. The unexpected turn could be a blow to Trump’s reelection prospects and comes as his administration and campaign are in turmoil.
The funds will allow “tens of thousands more patients served, better access to care for the underserved and integrated care for the whole person,” officials said.
Federal Reserve Chair Jerome Powell warned Tuesday that a tentative recovery from the pandemic recession could falter unless the federal government supplies additional economic support.
After a developer purchased a neighborhood plaza earlier this year, some residents and business owners are concerned the fabric of the community — known as the epicenter of Mexican culture and commerce for the entire Midwest — could be at risk.
Mayor Lori Lightfoot said the plan she sends to the Chicago City Council will not count on the federal government sending additional relief funds to the city.
A proposal by House Democrats to give the airline industry $28.8 billion to avert thousands of furloughs failed to advance on Friday, marking a fresh setback for airlines struggling with a massive downturn in travel during the pandemic.
Performing arts venues closed by the coronavirus pandemic can apply for $10,000 grants from the city starting Monday, city officials announced.
The community faces food insecurity, poverty and violence in addition to the coronavirus pandemic and fallout from this summer’s civil unrest. Meanwhile, residents have mobilized to support one another.
The Democratic bill passed after a partisan debate by a 214-207 vote without any Republicans in support.
Overall jobless aid has shrunk in recent weeks even as roughly 25 million people rely upon it. The loss of that income is likely to weaken spending and the economy in the coming months.
Chicago’s looking at a lot of red ink due to coronavirus-related shutdowns. What kinds of cuts might the city soon see to keep its financials afloat? We speak with four people who will likely have a say in those decisions.
In April, 17 organizations signed a pledge that Mayor Lori Lightfoot said would help the city protect its most vulnerable residents during the pandemic. But officials now say there is no data to measure the impact of that pledge.
With air travel down about 70% from last year, many carriers including United and American say they’ll be forced to cut jobs without additional aid. Delta and Southwest, two other big carriers, tapped private capital markets and say they’ll avoid layoffs.
Several aldermen on Friday urged Chicago’s chief financial officer to dip into the city’s $900 million savings account to wipe out the massive budget shortfall caused by the coronavirus pandemic.