Overview

• Mayor Brandon Johnson insists Chicago faces a revenue shortfall rather than a spending problem and opposes tying annual property tax increases to inflation despite his task force’s recommendation.
• The city budget has increased to $17.1 billion for 2025 with a projected deficit of about $1.15 billion, widening the gap Johnson must close in his upcoming proposal.
• The City Council’s License and Consumer Protection Committee narrowly advanced Ald. Anthony Beale’s ordinance to legalize video gaming terminals on an 8–6 vote, with backers projecting $60–$100 million in revenue.
• Johnson has voiced opposition to video gaming terminals, even as a Change Research poll finds only 16% support for inflation-based property tax hikes and strong backing for selective measures like an online sports betting tax (77%) and lifting the VGT ban (70%).
• The Financial Future Task Force outlined roughly 90 options across cost savings and new revenues, and the full council is slated to take up the gaming measure on Sept. 25 as the administration prepares a balanced budget by Dec. 31.