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Chicago Budget

All articles tagged with #chicago budget

local-government22 days ago•5 min saved

Chicago Approves $16.6B Budget Amid Political Tensions

Chicago's $16.6 billion 2026 budget was approved after Mayor Brandon Johnson chose not to veto it, despite disagreements over tax proposals and budget priorities. The budget relies on tax hikes, borrowing, and revenue from debt collection, while sidestepping some of the mayor's initiatives like the head tax. It includes full pension payments and aims for cost savings, but remains heavily dependent on short-term fixes and increased taxes that could hinder economic growth. Future reforms are needed to ensure fiscal stability.

via Illinois Policy|

#budget-process #chicago-budget #local-government

local-government25 days ago•5 min saved

Chicago City Council approves 2026 budget amid tax and policy debates

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.

via Illinois Policy|

#budget-deficits #chicago-budget #head-tax-rejection

local-government25 days ago•9 min saved

Chicago City Council Approves 2026 Budget Amid Mayor Johnson's Veto Threat

Chicago City Council approved a 2026 budget that avoids a corporate head tax, includes fee hikes like bag taxes and liquor taxes, legalizes video gambling, and proposes selling city debt, despite opposition from Mayor Johnson who may veto it. The budget faces concerns over revenue assumptions and potential deficits, with key changes aimed at funding city services and infrastructure.

via Block Club Chicago|

#chicago-budget #debt-sale #fees

local-government1 month ago•5 min saved

Chicago Budget Deadlock Persists Amidst Mayor-Alderman Standoff

Chicago faces a budget deadlock as Mayor Johnson and alderpersons remain at an impasse over the corporate head tax and other proposals, with the deadline approaching and the threat of a government shutdown looming.

via ABC7 Chicago|

#alderpersons #budget-stalemate #chicago-budget

local-government2 months ago•3 min saved

Chicago Budget Battles: Surplus, Tax Disputes, and Leadership Proposals

Chicago Mayor Johnson's proposed 2026 budget includes a record $1 billion TIF surplus aimed at funding a new teachers contract, but faces opposition from City Council members who fear it will divert funds from neighborhood improvement projects and community development, especially in Black and disadvantaged areas, amid concerns over project funding and pension reimbursements.

via Chicago Sun-Times|

#chicago-budget #local-government #mayor-johnson

local-government3 months ago•9 min saved

Mayor Johnson Proposes New Taxes to Fund City Budget and Avoid Layoffs

Mayor Brandon Johnson proposes a $16.6 billion budget for 2026, featuring increased taxes on corporations, social media companies, and cloud computing to address a budget shortfall and fund community safety programs, while facing opposition from business leaders and concerns about economic impact.

via Chicago Sun-Times|

#chicago-budget #corporate-head-tax #local-government