Chicago Mayor’s $3.8 Billion Debt Proposal Faces Pushback
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Chicago Mayor Brandon Johnson’s proposal to sell $3.8 billion in bonds is facing opposition from a key member of the city council finance committee as the deadline to pass the 2026 budget nears.Alderman Bill Conway, the committee’s vice chairman, wants to cut Johnson’s debt proposalBloomberg Terminal by more than half. The former banker wants to introduce substitute bond authorization ordinances that he expects to address during a finance committee meeting Tuesday. He cited concerns from credit rating firms and rising interest costs facing the nation’s third-largest city.