Chicago faces a $340 million budget gap after rejecting tax hikes, risking a city government shutdown.

Chicago faces a $340 million budget gap after the City Council rejected Mayor Brandon Johnson's proposed property tax increase. A planned $40 million tax on prepaid phones and calling cards was also rejected in Springfield, Illinois. Retailers said the new tax couldn't be implemented by January 1. The City Council must fill this gap by December 31 or face a historic shutdown of city government.

November 21, 2024
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