Chicago Financial Officials Defend Johnson’s Plan to Hike Corporate Taxes, Borrow $481M to Resolve Police Misconduct Lawsuits

Chicago Financial Officials Defend Johnson’s Plan to Hike Corporate Taxes, Borrow $481M to Resolve Police Misconduct Lawsuits Heather Cherone Mon, 10/26/2026 - 15:54 Chicago’s top financial officials on Monday defended Mayor Brandon Johnson’s plan to hike corporate taxes to close the city’s 2027 budget gap while borrowing $481 million to cover the cost of resolving lawsuits alleging police misconduct. Members of the Chicago City Council’s Budget and Government Operations Committee

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