✉news BusinessFinance first seen 1 d ago, last 1 d ago, peak #19
Chicago Officials Defend Tax Hike and $481M Police Misconduct Borrowing
Original: Chicago Financial Officials Defend Johnson’s Plan to Hike Corporate Taxes, Borrow $481M to Resolve Police Misconduct Lawsuits
Chicago financial officials are defending Mayor Brandon Johnson's proposal to raise corporate taxes and borrow $481 million to settle police misconduct lawsuits. The plan would use the borrowed funds to clear the city's backlog of misconduct judgments while new corporate levies aim to shore up the budget. The borrowing for lawsuit settlements and the tax increase are expected to draw scrutiny from aldermen and business groups as budget negotiations proceed.
Why now: Chicago's city budget and its heavy police misconduct settlement costs are contentious local political issues
ChicagoBrandon JohnsonChicago City Council
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