Chicago faces a $1B budget deficit in 2025, prompting a hiring freeze and travel restrictions.

Chicago is facing a nearly $1 billion budget deficit for fiscal year 2025, prompting Mayor Brandon Johnson to implement a citywide hiring freeze and restrict non-essential travel and overtime. The deficit is driven by rising personnel, pension, and contractual costs, along with decreased tax revenues. Johnson's administration is exploring various solutions to address the financial shortfall, with a budget proposal expected next month.

September 09, 2024
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