Chicago City Council approves 2026 budget amid tax and policy debates
TL;DR Summary
Chicago's City Council approved a $16.6 billion budget that rejects the mayor's proposed head tax, instead implementing other tax hikes and relying on short-term revenue measures and borrowing, while maintaining high personnel costs and full pension payments amid ongoing fiscal challenges.
Topics:nation#budget-deficits#chicago-budget#head-tax-rejection#local-government#pension-payments#tax-increases
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