By Yvette Shields, includes “… The city appears able to weather what's now projected to be a $700 million 2020 tax hit but its 2021 gap may top $1 billion because of rising expenses and potential tax losses. Mayor Lori Lightfoot and her finance team are stressing that the gap remains guesswork but the 2021 hit will be substantial and the city’s options will be limited as it seeks to avoid tax hikes and job cuts and as federal relief to offset state and local government tax losses remains stalled. …”