The Chicago Police Department exceeded its nearly $2 billion budget, approved by the Chicago City Council, by $207 million, according to city data.

Chicago officials held the first of four “budget engagement roundtables” designed to gather feedback about the city’s 2026 budget.

Despite Chicago Mayor Brandon Johnson’s trademark optimism, the unrelenting turmoil of the past two years, and his missteps in handling problems both new and old, has weakened his political standing, ensuring that if he runs for and wins a second term in office in 2027, he will have to do it the same way he won the first time: as an underdog.

Mayor Brandon Johnson on Monday sounded the alarm about the financial crisis facing the city, warning that Chicago “will have to do more with less” as President Donald Trump threatens to upend its finances and officials confront the results of decades of financial mismanagement.

The measure passed by the narrowest possible margin with the support of the entire Progressive Caucus and all but four members of the Black Caucus.

The Chicago City Council is set to vote on the proposal Wednesday, after a week-long delay fueled by outrage whipped up on social media, the budding 2027 race for mayor and the lack of trust many alderpeople have in Mayor Brandon Johnson’s ability to steer the city through rough financial seas.

Chicago officials would have an additional $87 million to spend on a host of programs designed to repair the city’s tattered social safety net, but the Chicago City Council used those funds to balance the 2025 budget and avert a property tax hike.

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

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.

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.

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.

“A budget that would lay off workers and cut services is just, you know, one that should not be tolerated by any Chicagoan,” Mayor Brandon Johnson said.

The new plan comes after the Chicago City Council rejected Johnson’s first two proposals to raise property taxes in order to avoid draconian cuts to city services and thousands of layoffs.