CHICAGO – The Chicagoland Chamber of Commerce issued the following statement in response to Mayor Brandon Johnson’s proposed budget:
“At a time when Chicago businesses are already facing many challenges, we commend Mayor Brandon Johnson for introducing a fiscally sound budget that recognizes the headwinds facing Chicago’s economy and doesn’t add to the existing burden on businesses. We appreciate the Mayor eliminating the automatic property tax increase based on inflation, going beyond the state-mandated minimum pension payment, and seeking sizable operational efficiencies before increasing taxes on inflation-weary residents and businesses.
We applaud the Mayor’s decision to invest in critical city services, including homelessness and youth-related initiatives. We share his vision of working to connect Chicago’s youth with employment opportunities and career pathways to both promote public safety and build a talent pipeline for businesses. Additionally, we commend the Mayor for creating additional civilian and detective positions within the Chicago Police Department at a time when we must do everything we can to address ongoing public safety issues through law enforcement support, reform, and collaboration.
While we believe this budget to be one that is prudent, fiscally sound, and acknowledges the challenges Chicago residents and businesses continue to face, we remain concerned about the substantially higher projected budget gaps in the coming years — particularly as federal pandemic funds dry up, property taxes continue to skyrocket, and our commercial real estate market struggles to recover as we face record-high downtown vacancy rates.
As always, the Chicagoland Chamber of Commerce stands ready to work with Mayor Johnson and the City Council to aid in implementing a budget that encourages economic development opportunities in every neighborhood across the city and supports the business community that employs our residents and creates revenue to invest in critical city services.”