Defying Mayor, City Council OKs Plan to Require 30 Votes to Take on New Debt

Chicago passes rule requiring more votes for new debt - Regional Media News

(The Center Square) - A new measure requiring larger support from the Chicago City Council to pass measures related to the city taking on debt or issuing bonds passed the city council in what supporters say is an effort to bring financial responsibility to the [...]

Chicago passes rule requiring more votes for new debt

(The Center Square) – A new measure requiring larger support from the Chicago City Council to pass measures related to the city taking on debt or issuing bonds passed the city council in what supporters say is an effort to…

Chicago aldermen require bigger majority for city-issued debt in blow to mayoral power

Chicago aldermen approved a plan Tuesday to require an even larger City Council majority for the city to borrow money.

City Council raises debt threshold, setting stage for potential fourth veto from Mayor Johnson – Chicago Sun-Times

Under Brandon Johnson’s stewardship, last year the city borrowed $449.3 million to bankroll large settlements and retroactive pay raises for Chicago firefighters that City Council members had been assured would be covered by money already set aside in the city budget. And just last month, Johnson refinanced up to $525 million in city debt to erase an $85.1 million mid-year shortfall without employee layoffs and vowed to use what’s left of federa…

City Council raises debt threshold, setting stage for potential fourth veto from Mayor Johnson

<p>A defiant City Council tried Tuesday to wean Chicago off its historic addiction to debt, setting the stage for a potential fourth veto from Mayor Brandon Johnson.</p><p>By a vote of 32 to 15, the City Council agreed to <a class="Link" href="https://chicago.suntimes.com/city-hall/2026/09/14/city-council-finance-committee-borrowing-threshold-marty-quinn" >require future borrowing</a> to be approved by a three-fifths vote. That’s 30 votes instea…

Defying Mayor, City Council OKs Plan to Require 30 Votes to Take on New Debt

Chicago’s finances have long been out of whack, pinched by soaring pension costs, spiraling personnel costs and a massive amount of debt.