(The Center Square) – Chicago’s budget has grown by nearly 40% since 2019 with the biggest increased expenditure going toward pensions and debt already incurred.
Illinois Policy Institute policy analyst Ravi Mishra sees just one victim stemming from Chicago’s ballooning budget costs where most of the revenues continue to go be funneled toward pensions and debt already incurred.
“I believe if this issue is not resolved or it continues to grow it’s just going to add more taxes on top of what we already have, which is only going to drive out more businesses, something that the city has been struggling with over the past 5 or 6 years,” Mishra told The Center Square. “We’ve had 10 major corporations or corporate headquarters move out of the city. That’s tax money that the city can’t collect anymore and that’s jobs that can’t, that don’t go to Chicago residents.”…