Chicago Mayor Brandon Johnson has unveiled his proposal for the city's 2025 budget, which includes a significant property tax increase. In response, Jack Lavin, President and CEO of the Chicagoland Chamber of Commerce, issued a statement expressing disappointment with the proposed financial plan.

Lavin highlighted that despite having ample time to identify potential reforms and spending reductions, the city opted for a $300 million property tax hike. "It is disappointing that despite having a year to do the work of identifying reforms, spending reductions, and efficiencies within city government in order to close a nearly billion dollar budget shortfall, the city instead turned to a $300 million property tax increase that will hurt residents and businesses of all sizes across Chicago," he said.

He pointed out that residents and businesses are already burdened by high property assessments, inflation, taxes, and regulations. Lavin emphasized the need for shared sacrifice and more effective spending cuts rather than placing the entire burden on residents and businesses.

According to Lavin, Mayor Johnson's budget proposal fails to provide an effective long-term solution as Chicago faces various fiscal challenges such as transit funding gaps, CPS budget issues, dwindling federal pandemic funds, and ongoing pension problems. He noted that "the mayor’s proposed budget is not an effective long-term solution to what will not be a one-time problem."

The Chamber is committed to collaborating with the mayor and City Council members in seeking sustainable solutions for fiscal stability. Lavin stated: "As always, we stand ready to work with the mayor and members City Council to find a sustainable path forward that puts us on firm fiscal footing while growing our economy and creating jobs in every neighborhood across Chicago."

The Chicagoland Chamber of Commerce represents over 1,000 member companies employing 400,000 individuals with an annual revenue generation of $24 billion. It aims to foster economic growth through leadership and advocacy.