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So remember all of the taxes Mayor Johnson is proposing is on top of:
1) Illinois/Pritzker’s budget office projects $3.2B deficit,
2) Chicago Public Schools faces $500M deficit despite $10B budget and
CPS already faced a $391 million shortfall as federal COVID-19 funding was set to expire, but the district said additional “cost pressures” in healthcare and special education resources added more than $100 million to the deficit — bringing the final total to $505 million. Read More Here! And Plus, that $505 million deficit is before factoring in whatever the Chicago Teachers Union gets out of over $10 billion in new contract demands.
3) Chicago’s Budget Deficit Balloons to Nearly $1 Billion in 2025!
4) And the Cook County Budget has shortfall!
Cook County Board President Toni Preckwinkle today unveiled the preliminary forecast for the County’s Fiscal Year 2025, showing a projected gap of $218.2 million – significantly reduced from the $409.6 million peak during the pandemic. Read More Here!
Do you see what I see? I foresee the state, county, city and CPS trying to raise taxes with the tax levy again and we just had the CPS tax levy when Lightfoot was in office!
Mayor Brandon Johnson’s third proposal to raise property taxes in order to avoid draconian cuts to city services and thousands of layoffs may prove to be the charm.
Two key Chicago City Council committees voted Tuesday to send Johnson’s $17.3 billion spending plan for 2025 to the full City Council for a final vote. The two-step process is set to start Wednesday, with a final vote scheduled for Friday.
The City Council’s Finance Committee voted 14-12 to advance Johnson’s plan to hike property taxes by $68.5 million and increase a host of other taxes and fees by an additional $165.5 million.
Hours later, the City Council’s Budget Committe voted 17-16 to advance the rest of the budget proposal, ensuring that the City Council will be able to vote on the package Friday to avoid an unprecedented shutdown of Chicago city government.
The vote by the Budget Committee came with high drama. As 28th Ward Ald. Jason Ervin, the panel’s chair, tallied the vote, it appeared to be deadlocked, with 16 votes in favor of sending the proposal to the full City Council and 16 votes against. Read More Here!
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