CHICAGO (WLS) — Mayor Brandon Johnson said creative revenue ideas are needed for Chicago to deal with its looming budget problems.
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The Chicago mayor adding that there needs to be a sense of urgency after lawmakers failed to come up with a plan to fund mass transit.
Chicago is looking at a projected budget shortfall of more than $1 billion for next year.
Lawmakers wrapped up the spring session without voting on any revenue measures to help the CTA, Metra and Pace.
Johnson emphasized the importance of having all stakeholders involved in the decision-making process during a press conference. He stressed the urgency of ensuring that everyone’s voice is heard.
Several proposals to raise money for the CTA, including a new delivery tax and higher taxes on rideshare failed to get enough support in Springfield.
The mayor suggesting lawmakers look in other areas.
Addressing the issue of income disparity, Johnson criticized the ultra-rich for not contributing enough. He called for a discussion on creating new revenue sources that would require wealthy individuals to contribute more, rather than placing the burden on working-class families.
However, Chicago faces its own budget problems, including another downgrade in credit rating.
The mayor supports maintaining the one percent tax on groceries even after the state ceases its collection. However, this decision still needs approval from the city council before it can be implemented.
“I’ll say this: I’m confident that my colleagues are not going to leave $80 million on the table,” Sixth Ward Alderman William Hall and Chair of the Revenue Committee said.
Alderman Hall said that bringing the Formula 1 race to Chicago could also help raise hundreds of millions of dollars.
As city hall continues to work with Springfield to find new progressive revenue sources that require state approval, the focus remains local.
“If you look at some of the trends for our revenue growth, the areas of revenue that the city of Chicago controls, those are the revenues that are showing the strongest promise. It’s the local taxes, because we have direct oversight over,” Johnson said.
The Mayor also blamed the Trump administration for creating uncertainty in the economy and further complicating the budget process.
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