CHICAGO (WLS) — Mayor Brandon Johnson said creative revenue ideas are needed for Chicago to deal with its looming budget problems.
ABC7 Chicago is now streaming 24/7. Click here to watch
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.
“I’ve emphasized with great urgency the importance of ensuring all our stakeholders are involved,” Johnson stated at a press conference on Tuesday.
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.
“The ultra-wealthy continue to evade contributing more significantly,” Johnson commented. “Thus, we need to hold discussions about revenue streams that encourage the wealthy in this state to contribute in a way that does not further burden working families.”
However, Chicago faces its own budget problems, including another downgrade in credit rating.
The mayor supports maintaining the one percent tax on groceries when the state ceases its collection later this year, although this still requires city council approval.
“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.
READ ALSO | Illinois lawmakers pass $55.2B budget with new taxes, immigrant health cuts, no transit funding
Copyright © 2025 WLS-TV. All Rights Reserved.
