A policy-focused endorsement forum
The Chicago Tribune editorial board held a forum Tuesday as part of its mayoral runoff endorsement process. The Tribune endorsed Bill Daley in the Feb. 26 general election.
A member of the board set the forum’s tone: "Each of you has said plenty about one another's past. Our focus today—we'd like you to focus on Chicago's future."
Many of the board's questions concerned economic growth and the city's finances—specifically, its pension shortfalls and debt.
Asked about encouraging economic growth in Chicago:
Both candidates agreed efforts should be focused both on the city's downtown area and in neighborhoods on the South and West sides they say have been neglected. Both also said the Neighborhood Opportunity Fund should be a full grant program as opposed to requiring upfront money from small businesses that would like to apply.
Lightfoot said the city should give some of its contracts to small businesses, provide opportunities for women-owned and minority-owned businesses, and increase access to credit, loans, and other support for small businesses.
Preckwinkle highlighted her plan to implement a $15 minimum wage in Chicago by 2021, saying this would bring a diverse and talented workforce to the city. She also said the city should triple its investment in microloans for small businesses.
Regarding pension shortfalls and debt:
Lightfoot said the city must first cut spending. She referred to the amount the city spends on settlements and attorney fees related to police misconduct and asked whether the city needs separate city clerk and treasurer offices. Lightfoot said consolidating administrative and investment functions among the four city pension funds could also save money. She also said the city needs a risk manager.
Lightfoot said she supports new revenue streams such as a Chicago casino, a marijuana tax, and a progressive income tax, but that none of these changes would be implemented in time to address immediate budgetary issues. She said the mayor's direct revenue-raising options are a soda tax and property taxes. Lightfoot opposes a soda tax and said the current property tax system is unfair to working families and must be fixed before those taxes can be raised again.
Preckwinkle emphasized her support for a progressive state income tax, saying the property tax system local governments rely on for revenue is inequitable. She also said the city should unwind downtown tax increment financing (TIF) districts to have access to more property tax revenue.
Preckwinkle said making government more efficient would save the city money. She said Chicago could rein in spending on its workers’ compensation program, which Preckwinkle said is five times greater than what the county spends on its workers’ comp. Preckwinkle said the city can reduce the money spent on settlements for police misconduct through better training and supervision but that this will not address the city's budget issues in time.
Experience
Preckwinkle referred to her experience working with budgets, noting that as Cook County board president, she closed a $487 million budget gap through a combination of cutting budgets, refinancing debt, and a difficult decision to lay off 1,500 people.
Lightfoot pointed to her experience as a senior equity partner at Mayer Brown, saying she advised CEOs and C-Suite personnel. She said this gives her an understanding of what businesses want.
Ethics reform
Lightfoot frequently mentioned her opposition to aldermanic privilege—aldermen's power over zoning, licensing, and permitting in their wards—which is an area of ethics reform on which the candidates disagree.
Preckwinkle mentioned her proposal to ban outside employment for aldermen. Lightfoot supports limiting outside employment as opposed to banning it outright.
Watch a video of the full endorsement forum here.
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