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Chicago’s mayor pushes a $1.15B budget with a corporate tax, facing opposition but citing public support and urgent needs.
Chicago Mayor Brandon Johnson is pushing a $1.15 billion deficit-reducing budget centered on a $21 monthly corporate head tax on large employers, despite opposition from half the City Council, Governor Pritzker, and business groups.
He argues the tax is essential to fund public safety, education, and social services, citing recent Democratic wins as proof of public support.
The plan includes $1 billion for schools, firefighter back pay, police settlement debt, and Greyhound station rehab.
S&P Global warned of a possible credit downgrade due to weak reserves and pension issues.
The City Council is set to vote before Thanksgiving, with Johnson holding a tiebreaking vote.
El alcalde de Chicago empuja un presupuesto de $1.15B con un impuesto corporativo, enfrentando oposición pero citando el apoyo público y las necesidades urgentes.