Chicago City Council begins hearings on Mayor Johnson's budget

Chicago City Council has commenced hearings regarding Mayor Brandon Johnson's proposed $17.6 billion budget. The spending plan includes $131.5 million in new spending, $286 million for Chicago Public Schools, and an increase in the city's lease tax.

A central point of contention is a proposed corporate head tax targeting companies with more than 125 full-time employees, which would charge $25 per employee per month. While Mayor Johnson argues the tax ensures corporations pay their fair share, the Chicagoland Chamber of Commerce has voiced strong opposition, claiming the tax acts as a disincentive to job growth.

The budget also includes a plan to borrow $481 million to address the rising costs of lawsuits stemming from allegations of Chicago police officer misconduct. Additionally, the proposal does not include a property tax hike.