Latest Chicago Budget Proposal Drops Property Tax Hike, Relies On Skipping A $40 Million Loan Repayment

After Mayor Johnson cancelled a vote on his budget plan Friday because he did not have the votes for it to pass, he and alders worked over the weekend on an updated proposal that drops the property tax hike completely and relies on skipping a $40 million loan repayment to balance the budget. The city has until Dec. 31 to agree on a plan. Reset checks in with executive director at the Center for Tax and Budget Accountability Ralph Martire about the latest and about his ideas for structural reforms to how Chicago does budgeting. For a full archive of Reset interviews, head over to wbez.org/reset.