The Chicago City Council's Revenue Subcommittee has begun exploring new revenue sources as federal pandemic aid is set to wind down. In a recent hearing, various proposals were discussed, including extending the sales tax to professional services and introducing a local 1% grocery tax by 2026. The subcommittee's efforts are part of a broader initiative to fund city programs and address budgetary challenges. Despite the need for new revenue, there is contention among council members, with some advocating for cost-cutting measures first. The city's most stable revenue source, property taxes, remains untouched due to a promise by Mayor Brandon Johnson. The hearing and discussions were reported by CrainsChicago and Sun-Times.
From the Editorial Board: The City Council’s mad scramble for new revenue sources, just getting underway per the orders of Mayor Brandon Johnson, is shaping up to be a spectacle that should embarrass City Hall. https://t.co/17rdw16mcO
Last night @BOSCityCouncil's spent 12+ hrs battling over < .33% of Boston's $4.6B budget to try & prove a point to Mayor Wu after they passed the admin's major policy items without significant changes. Read our ED's comments in the @bostonherald: https://t.co/8OXypfFfjy https://t.co/WfD3XQtzcn
Here’s why Mass. is having the worst school budget crisis in decades | @masslivenews https://t.co/3dr7zMFqYJ
Why is the Revenue Subcommittee facing such a tough task? It doesn't help that the most progressive tax the City collects — and its most stable, and easiest to raise — is the one @ChicagosMayor promised never to touch: property taxes. https://t.co/6BM6nbCa7C
How can Chicago make more money? The first revenue committee hearing offered few specifics. https://t.co/7fCySEjpKr https://t.co/doSsY459O4
Boston Office Slump Sets Up $400M Budget Hole Boston Mayor Michelle Wu has proposed raising commercial property taxes on an already battered market If the State rejects that proposal, Boston residents face a sharp 33% increase in property taxes or risk $400M in budget cuts The… https://t.co/wY3XtJXo7f https://t.co/AHSDkkzNSS
Sadly City Council committee hearing livestreams don’t always have a wide shot of committee members because yesterday at the Revenue subcommittee hearing there was some REAL FUN body language as members realized they’re going to have to vote on a local 1% grocery tax by 2026. https://t.co/stvK7VI4ZE
Chicago is hunting for more revenue as federal pandemic aid winds down over the next couple of years https://t.co/QBjBdSVX9M
The Chicago City Council took the first step on a long path to new or increased taxes, despite a demand from one veteran member that cost-cutting must come first. https://t.co/lQeA0l6kaY
How can Chicago make more money? Inside a first council committee hearing created to pitch ideas to fund city programs. https://t.co/vMzPvgbRhl
City Council subcommittee takes baby step toward raising new revenue (Via Sun-Times) https://t.co/UGUoFsNUvT
Although it won’t impact the budget passed this fall, city officials plan to "present (state legislators) as much research as possible" to convice them to allow Chicago to extend the sales tax to professional services. https://t.co/Bt3hj7hDso @CrainsChicago
Apropos of today's City Council subcommittee on Revenue hearing here's a thread where you too can vote on all the proposed revenue ideas their recent internal survey included. CONTEXT: https://t.co/Xd0hC3oE8E