Chicago Mayor Brandon Johnson Reveals $882 Million Budget Gap for 2027
Johnson’s team says rising pension, debt and settlement costs will push 2027 spending higher as aldermen weigh new taxes and cuts.
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Chicago Projects $882 Million Budget Gap on Bond, Pension Costs
Chicago Mayor Brandon Johnson is projecting an $882 million budget deficit for 2027, even as his administration continues to seek ways to close this year’s shortfall, underscoring the financial pressures facing the third-largest US city.
Chicago Mayor Brandon Johnson reveals $882 million budget gap for 2027
CHICAGO — Mayor Brandon Johnson’s administration on Thursday unveiled a projected $882.4 million hole in the 2027 budget, officially starting the clock for another slugfest with aldermen over how to close the gap before the end of this year. The…
Mayor Johnson projects $882M deficit, vows to not balance budget ‘on backs of working people’ – Chicago Sun-Times
Johnson, who did not directly rule out a property tax hike, said the budget gap is driven in part by $70 million more in the city’s bond payments, $90 million more in pension obligations, cost-of-living adjustments for union workers, and commodity price hikes linked to the U.S. war against Iran, including $32 million more in fuel and energy costs.
Mayor Johnson projects upcoming $882M deficit, vows to not balance budget 'on backs of working people'
<p>Chicago faces a $882.4 million budget gap next year, Mayor Brandon Johnson announced Thursday as he teed up his next fight for “tax-the-rich” funding streams he believes are needed to offset the city’s severe financial woes.</p><p>“We will not balance this budget on the backs of working people,” Johnson said as he released his annual budget forecast. “We will continue to fight for progressive, equitable revenues that ask those who can afford …
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