Chicago Mayor Withdraws Property Tax Hike Proposal

Chicago Mayor Brandon Johnson has abandoned his initial proposal for a $300 million property tax increase amid significant opposition from aldermen who were poised to vote it down. He now aims to negotiate a smaller tax hike or alternative revenue sources, such as increasing the garbage collection fee and taxes on various items like cigarettes and parking. Johnson emphasized a collaborative approach, stating that the proposal was meant to engage the council and not dictate outcomes. His administration is exploring utilizing unallocated federal pandemic relief funds and other revenue streams to address the city's $982 million budget deficit. Some aldermen have criticized Johnson's retreat, calling for more substantial cost-cutting measures. Ultimately, the City Council will consider various options to balance the budget without resorting to layoffs or regressive taxes.