"We're hopeful mayor-elect Johnson will maintain fiscal discipline and continue on the path that earned the city several credit rating upgrades last year. "The city's recent efforts to move toward structural balance and implement a new policy to fund supplemental pension payments have been welcomed by investors," Molly Shellhorn, senior research analyst for municipals at Nuveen, a major holder of Chicago debt, wrote in an email. The city's pensions remain underfunded, and Chicago Public Schools and the Chicago Transit Authority have warned of punishing deficits by 2026 when their federal COVID relief runs out. "The city's own financial situation has improved, but it also faces a number of headwinds, including stressed downtown real estate and the lingering impacts of the pandemic on important sectors such as conventions and business travel, that will require significant attention," Wetmore said.
"The Civic Federation sees getting still-high levels of violence under control and implementing a federal consent decree as high immediate priorities," said Sarah Wetmore, the Chicago Civic Federation's acting president.
Johnson's opponent was the "tough on crime" candidate but the mayor-elect, who won narrowly with 51.4% of the vote in unofficial returns, will be held accountable for public safety concerns in a city that averages more than four shooting incidents and one murder a day, according to Chicago police reports. "What I've offered is a plan that provides the type of consistency and stability that the market requires." "What I believe the market wants is some consistency and some predictability," Johnson said after a City Club of Chicago address last week.
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