A chilling assessment from the Washington Post is sending ripples through Chicago politics, a stark warning for Mayor Brandon Johnson. The traditionally left-leaning publication didn’t offer a critique from a reporter; it was a scathing rebuke from their Editorial Board, signaling a deepening crisis in the city’s financial stability.
The core of the concern lies with Chicago’s deeply troubled pension system, burdened by decades of underfunding. Mayor Johnson’s proposed solution – a combination of new taxes and increases to existing ones – is viewed not as a fix, but as a temporary measure delaying the inevitable. The Post argues it’s a familiar pattern of short-sighted “gimmicks” that have plagued the city for years.
Chicago’s history is littered with desperate financial maneuvers, most notably the infamous 2008 deal that sold off 75 years of parking meter revenue for a quick $1.15 billion. That money vanished quickly, and the city continues to feel the repercussions today, a painful lesson seemingly ignored. Serious fiscal reform remains elusive.
The city’s operating budget has ballooned nearly 40 percent between 2019 and 2025, heavily reliant on temporary federal pandemic funding. Now that the funding has dried up, the programs and personnel established during that period remain, creating a significant and unsustainable financial strain.
Mayor Johnson’s plan to address a $1.15 billion shortfall involves targeting taxes on businesses vital to Chicago’s economy, alongside further borrowing. Specifically, he proposes raising the tax on leased property – computers, vehicles, software – and reinstating a “head tax” of $33 per employee, per month for large employers.
These measures are predicted to stifle economic growth and ultimately reduce tax revenue, a particularly dangerous move given the Chicago Fed’s recent report indicating the weakest hiring outlook since the pandemic began. Even Illinois Governor JB Pritzker, a fellow Democrat, has voiced opposition to the head tax, warning it would punish job creation.
When confronted with the Washington Post’s criticism during a recent press event, Mayor Johnson dismissed the concerns, claiming the publication’s information was “wrong.” He brushed off the critique, suggesting it wasn’t the first time a publication had mischaracterized his actions.
The situation has prompted a stark comparison to the previous administration. While Lori Lightfoot’s tenure as mayor was widely considered problematic, observers are now suggesting that Brandon Johnson’s leadership is somehow proving even more detrimental to the city’s future.
