Chicago made history, electing former federal prosecutor Lori Lightfoot its first black, female mayor as the city struggles with gun violence on its streets and looming fiscal woes.
Lightfoot, who also will be the first openly gay leader of the nation’s third-most-populous city, soundly defeated Cook County Board President Toni Preckwinkle, 74 to 26 percent with nearly all precincts reporting, according to city election board returns. Lightfoot had never held elective office and will replace Rahm Emanuel, who chose not to run for a third term.
The historic outcome of last Tuesday’s vote was assured after the two black women beat 12 rivals in the campaign’s Feb. 26 first round, Chicago’s most crowded mayoral ballot ever. It included Bill Daley, the son and brother of two past Chicago mayors and, like Emanuel, a chief of staff to former President Barack Obama.
In a victory speech that evoked Martin Luther King Jr. and Chicago’s first black mayor — the late Harold Washington — Lightfoot said her victory was a “mandate for change.” She pledged to embrace diversity, welcome immigrants, ensure the city doesn’t shrink, and combat its infamous political corruption.
In defeating Preckwinkle, Lightfoot inherits control of a city beset by $28 billion in pension debt, a shrinking population, and a murder rate far surpassing that of New York and Los Angeles. While Emanuel reassured investors in the city’s junk-rated bonds by boosting taxes, his successor will contend with the pension shortfall and projected budget deficits that put the city’s fiscal stability at risk.
Lightfoot challenged Emanuel before he dropped his bid for a third term, announcing her candidacy in May 2018. She presented herself as the candidate who would combat Chicago’s notorious reputation for corruption. Indeed, a scandal involving allegations of attempted extortion erupted in the middle of the campaign’s first round.
Once a favored candidate, Preckwinkle was hurt by her connection to Alderman Ed Burke, who was hit with a federal corruption charge in January. Prosecutors alleged he pressured executives of a fast-food restaurant chain to become clients of his tax-specialty law firm in exchange for a remodeling permit in his ward. Burke has pleaded not guilty.
Under Emanuel, the city ended its so-called scoop and toss, the process of borrowing to pay off maturing debt, and also unwound its debt portfolio of interest-rate swaps. All three major rating companies now have a stable outlook on the city’s debt. Moody’s rates the bonds one step below investment grade, while S&P Global Ratings and Fitch Ratings consider Chicago at least one level above junk.