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Mayor Brandon Johnson’s first budget is expected to sail through the Chicago City Council on Wednesday. It’s balanced in part with $786.5 million in one-time revenues. The search for new revenue sources has been punted to a Council subcommittee. ....
A top official said Chicago could be forced to raid its reserves, even though that would almost certainly cause Wall Street rating agencies to reduce the bond rating, increasing how much it costs the city to borrow money. ....
People are arriving by plane from New York City, Denver and San Antonio, cities that are also struggling to accommodate thousands of new arrivals. ....