Politics
Key City Panel Narrowly Rejects Push to Require City Council Super Majority to Authorize New Debt
(WTTW News)
A key City Council committee voted 16-17 on Monday to reject a proposal that would have required the approval of at least 34 members of the Chicago City Council before the city could take on new debt.
The rare rejection by the City Council’s Finance Committee means the proposal will not advance to the full City Council for a final vote.
Authored by Ald. Marty Quinn (13th Ward), a frequent opponent of Mayor Brandon Johnson, the proposal represented the latest attempt by critics of the mayor to reduce his power and cast him as a poor steward of the city’s finances, which have been badly out of whack for decades.
Quinn said the measure would give 17 members of the City Council the power to stop Johnson from burdening future generations with massive debt obligations. Other supporters said it would require the mayor to negotiate with more members of the City Council to get his initiatives over the finish line.
“The people of Chicago don’t trust the government,” said Ald. Matt O’Shea (19th Ward), who argued the higher threshold would lead to the administration providing more financial information to alderpeople. “If we keep doing what’s been happening here these past few years, we’re leaving a real mess for our children.”
Members of the Progressive Caucus and Black Caucus joined forces to block the measure from advancing after several hours of debate.
Budget Committee Chair Ald. Jason Ervin (28th Ward) said the proposal would only worsen the city’s already dire finances.
“All this would do is empower a small group of people to hold everybody else hostage,” Ervin said.
The City Council has approved two big borrowing packages since Johnson took office in 2023. Both generated massive amounts of controversy.
The City Council voted 32-17 in April 2024 to borrow $1.25 billion during the next five years to fund a wide-ranging slate of projects designed to expand the supply of affordable homes and good-paying jobs.
In May, the City Council voted 30-18 to create a city-owned nonprofit housing developer — the centerpiece of Johnson’s effort to reduce Chicago’s massive affordable housing shortfall — fueled with $135 million from those borrowed funds.
In February, the City Council voted 26-23 to borrow $830 million to repair Chicago’s crumbling streets, sidewalks and bridges after weeks of controversy.
Contact Heather Cherone: @HeatherCherone | (773) 569-1863 | [email protected]
