Chicago Mayor Brandon Johnson Faces Financial Showdowns Over CPS Budget and Bond Proposal

Johnson’s administration grapples with a CPS pension payment, borrowing plan, and a controversial $830 million bond proposal as deadlines loom.

Mayor Brandon Johnson is urging Chicago Public Schools (CPS) to cover a $175 million pension payment and approve a $242 million borrowing plan to avoid a city budget deficit.
A divided CPS board must decide by March 30 whether to approve the borrowing plan, which faces opposition from some members citing long-term financial risks.
Johnson’s $830 million infrastructure bond proposal, criticized for its back-loaded repayment schedule, faces a close vote in the City Council on Wednesday.
Critics of the bond plan argue the repayment structure would burden taxpayers with $2 billion in added costs, while supporters emphasize the need for infrastructure investment.
Johnson has clarified that bond funds will only be used for capital projects, addressing concerns they might be diverted to cover CPS expenses.