CHICAGO (WLS) — Chicago’s budget director has said 2026 will be one of the most difficult budget years in recent memory with the city facing another massive budget hole and few good ways to fill it.<\/p>\n
“These roundtables are so important tonight,” said Chicago Mayor Brandon Johnson. “To make sure that we have a budget and budget process that ensures that all of our residents are heard.”<\/p>\n
ABC7 Chicago is now streaming 24\/7. Click here to watch<\/a><\/p>\n On Monday, Johnson attended the second of four budget roundtables meant to engage the public ahead of what could be a contentious budget fight.<\/p>\n “You have budget imbalances when one side of your ledger is growing at a faster pace than the other. It would be great if that was on the revenue side, but unfortunately, it’s on the expenditure side,” said City Budget Director Annette Guzman.<\/p>\n The city projected a 2026 deficit of nearly $1.2 billion, a figure that could grow if there are cuts in federal funding.<\/p>\n SEE ALSO | <\/strong>Mayor Johnson says sense of urgency needed for mass transit funding as city faces budget shortfall<\/a><\/p>\n “We’re demanding a budget that serves the many and not the few, a budget that taxes the wealthy and not the working families,” said West Side resident and community organizer Crystal Gardner.<\/p>\n Last year, Johnson broke a campaign pledge and proposed a $300 million property tax hike<\/a>. But facing objections, he took it off the table<\/a> in favor of fee increases, cuts to unfilled positions and debt restructuring.<\/p>\n