Chicago K-12 Tax & $pending climate: Credit Card borrowing
BREAKING: Chicago City Council votes 26-23 to pass Mayor Brandon Johnson’s $830M borrowing plan. The plan makes no payments on the debt in the first two years and no payments on the principal for 18 years after that. This backloaded payment schedule means the total cost of Johnson’s deal is $2B. Paid mostly by future generations of Chicagoans.
