CHICAGO (WLS) — Mayor Brandon Johnson is committed to finding new ways to generate revenue to tackle a huge budget shortfall without increasing property taxes.

In an interview with ABC7 on Friday morning, Johnson expressed, “I will propose a budget that aligns with the priorities of everyday citizens. We will strive for progressive revenue solutions.”

ABC7 Chicago is now streaming 24/7. Click here to watch

When asked to elaborate on progressive revenue, Johnson explained, “There are too many tax loopholes benefiting the wealthiest and corporations in this city. My plan will focus on fairness for working people. We intend to make crucial investments in affordable housing, youth programs, mental health and behavioral services, and community safety measures.”

RELATED: Chicago Mayor Brandon Johnson says he will not ask for property tax increase in budget

Johnson also said closing the budget gap is not just about revenue.

“It is also about how government can be more productive and I am going to look into means in which we can modernize our budget system so that we can save taxpayer dollars,” Johnson said.

Johnson said furloughs and layoffs are not on the table.