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Mayor Lori Lightfoot presents her budget proposal for 2022 to the Chicago City Council on Monday, Sept. 20, 2021. (WTTW News)

Mayor Lori Lightfoot’s plan to close a projected $733 million budget gap in 2022 relies on $385 million in federal relief funds and nearly $299 million in savings and efficiencies, but the plan contains “no new tax or significant fee increases” for Chicago residents, she said.

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Chicago Mayor Lori Lightfoot talks Wednesday, Aug. 11, 2021 about the 2022 budget. (Heather Cherone / WTTW News)

Chicago is facing an uncertain financial future as Mayor Lori Lightfoot prepares to detail how she plans to close a projected budget deficit of $733 million in 2022, budget experts told “Chicago Tonight” on Thursday.

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(Ken Lund / Flickr)

The economic fallout from the coronavirus pandemic is being felt by industries and businesses in Chicago and across Illinois, from large hotel chains and restaurants to independent movie theaters and music venues.