Chicago's Tax Proposal Sparks Debate Amid Fiscal Challenges

Chicago is confronting serious financial difficulties affecting its city budget, public schools, and transit services. In response, Mayor Brandon Johnson has proposed increasing taxes on wealthy residents and businesses to address the fiscal shortfall. Central to his strategy is the call to "tax the rich." Critics argue that this approach oversimplifies the complex financial challenges, suggesting that instead of reforming spending or improving efficiency, Johnson's policies are influenced by the Chicago Teachers Union (CTU). Currently, over half of property tax revenue funds Chicago Public Schools (CPS), which also receives nearly $1 billion annually in city subsidies. Since 2019, city expenditures have risen by 62%, totaling an additional $6.6 billion, while CPS per-student spending has grown by almost 40% despite declining enrollment. The Chicago Transit Authority (CTA) has increased its budget by 30% since 2019 but has only partially recovered pre-pandemic ridership levels. Despite receiving nearly $6 billion in federal pandemic relief funds, critics contend these were used to expand programs rather than implement sustainable long-term solutions. Mayor Johnson and CTU Presiden...