Not much has changed today when it comes to Chicago politicians, especially the current Mayor Brandon Johnson, who has made meaningless rhetoric an art form. When Johnson unveiled his budget last Friday, many thought he was practicing the Insanity quote that states:
“The definition of Insanity is doing the same thing over and over again and expecting different results.”
The budget reflected the same priorities that have defined his administration from day one. Higher taxes, unfocused priorities, and no serious plan to stop the city’s steady decline. However, Johnson attempted to frame the budget as a plan based on “protecting working people,” but those living there see just more of the same thing.
Johnson's budget includes a revived corporate head tax, new business surcharges, an expanded sweep of the TIF surplus, and increased long-term borrowing. I cringe any time I see the word “surplus” in the budget of a city that is on life support. This is the epitome of “robbing Peter to pay Paul.” Dropping that word in makes it sound like things aren’t so bad when, in reality, they are probably worse.
A TIF surplus is the leftover money in a Tax Increment Financing (TIF) fund after all the expenses and projects for that year have been paid. This surplus is then distributed to the original taxing bodies, such as schools and counties, based on their proportional share of the total tax revenue. The key here is, will there truly be a “surplus?” Far too often, when things fall apart, politicians like Johnson will play the “expected” TIF surplus card.
Johnson promotes these measures with the tired old line that they are essential for fairness and “equity.” Still, the plan reflects an administration unwilling to reduce spending or confront the costs that continue to destabilize the city.