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Chicago’s Budget Crisis Deepens | Fort Wayne News
Chicago’s facing a $130 million budget shortfall, with Mayor Brandon Johnson blaming the city council’s rejection of his proposed corporate head tax — which could have raised $100 million — as a major setback. Other revenue ideas, like collecting on city debt (owed over $8 billion) and council-approved measures like bridge ads, have failed to deliver. Surprisingly, Johnson’s own progressive proposals — social media and sports betting taxes — have outperformed expectations. Still, he’s pushing for a millionaire’s and billionaire’s tax, hoping to avoid layoffs and service cuts. The council’s…
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