Mayor Brandon Johnson slammed S&P’s decision to downgrade the city’s credit rating, saying it was based on inaccurate information.

Chicago Transit Authority President Dorval Carter plans to resign on Jan. 31. He plans to take a job as the president and CEO of Saint Anthony Hospital on the city’s West Side.

Chicago Mayor Brandon Johnson wants the state to come through for him in a major way to boost spending on the city’s schools and transportation networks — but Gov. J.B. Pritzker said Johnson and his team “don’t reach out very often, and it seems like they don’t have good relationships in Springfield.”

If approved by the full City Council, violations of the ordinance could trigger fines of at least $2,000 and no more than $5,000. A final vote on the measure could come at the City Council meeting scheduled for Jan. 15.

In his first interview since the CPS board voted unanimously to terminate Martinez, Johnson said the current board members were carrying out his vision for the nation’s fourth-largest school district.

The city’s spending plan relies on tax and fees hikes of $165.5 million, including a 2% increase in the tax levied on software licenses, cloud services and other digital goods as well as a 1.25% increase on subscriptions to streaming and cable television services.

To fully understand what led the district to this point, let’s go back in time to the spring of this year. Below is a timeline of the major events leading toward CPS CEO Pedro Martinez’s termination and upcoming departure from CPS:

The unusual Friday night meeting saw more than an hour and a half of public comment before board members went into closed session to debate Martinez’s fate. In a 6-0 vote, the board dismissed Martinez without cause, which triggers a clause in his contract allowing him to stay on for a six-month transitional period and receive 20 weeks of severance.

The board announced a special meeting for Friday evening where it will take up only a small handful of items, including the schools chief’s possible termination and a settlement with CPS.

Chicago’s $17.1 billion spending plan is now in place for 2025 — but it didn’t come easily. Forceful pushback from alderpeople blocked property tax hikes — but the budget still includes $165.5 million in additional taxes and fees to generate revenue.

Mayor Brandon Johnson’s picks, which include a mix of well-known community activists and candidates who lost their bids to win a seat on the board, will join the 10 people who won in November.

The budget passed 27-23, with just 18 days to spare, averting an unprecedented shutdown of city government.

The spending plan still calls for a host of other taxes and fees to rise by an additional $165.5 million, including increases in the taxes levied on software licenses, cloud services and other digital goods as well as subscriptions to streaming and cable television services.

The mayor’s decision to delay the budget vote is an acknowledgment that the spending plan that would hike property taxes by $68.5 million and increase a host of other taxes and fees by an additional $165.5 million does not have enough votes to pass the Chicago City Council.

Sean Harden — who previously worked as Chicago Public Schools’ deputy CEO of community affairs and as an executive assistant to former Mayor Richard M. Daley — took his oath of office and was sworn in as the board’s seventh member Thursday.

Two key Chicago City Council committees voted Tuesday to send Johnson’s $17.3 billion spending plan for 2025 to the full City Council for a final vote. The two-step process is set to start Wednesday, with a final vote scheduled for Friday.