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City Council Okays $16B Lightfoot Budget for Fiscal 2023
Mayor Lori Lightfoot’s $16.4-billion for fiscal 2023 was approved Monday by Chicago’s City Council, after the mayor reportedly picked up support from aldermen who had initially opposed it. The council approved Lightfoot’s appropriations ordinance by a 32-18 vote and a separate $1.7-billion property tax levy by a 29-21 vote.
The budget package includes a $1.85-billion bond issuance that will help support the second installment of a five-year infrastructure investment.
“For the second year in a row, the budget includes no new taxes and continues to strategically invest in building a safer, more equitable Chicago,” said Chicago Budget Director Susie Park. “The hard work that began three years ago with the 2020 budget has enabled the city to set a course for financial stability, and we must keep this momentum going for a strong financial future for years to come.”
- ◦Policy/Gov't
