Mayor Lori Lightfoot says Chicago isfacing a combined budget shortfall of at least $2 billion for the 2020 and 2021 fiscal years, largely due to the financial shutdown of the COVID-19 pandemic.

As Lightfoot relaxes COVID-19 restrictions for some businesses Thursday, many residents are wondering how Chicago will dig its way out of the red — and whether to brace for city furloughs, layoffs, property tax increases or other cost-saving measures.

Joining us for a two-part conversation to discuss the city finances as well as public safety efforts are four Chicago aldermen:Ald. Anthony Beale (9th Ward), Ald. Rossana Rodriguez Sanchez (33rd Ward), Ald. Gilbert Villegas (36th Ward) and Ald. Nick Sposato (38th Ward).

Watch part two of our conversation about gun violence in Chicago: