Chicago City Council votes to use $75 million parking meter payment for pension debt

2 sources2 articles First seen 10 hours ago Updated 5 hours ago United States Truth score 44

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A Chicago City Council vote has redirected money from the city’s parking meter deal toward pension debt. Chicago parking meter pension payment The council voted 44-6 to use the $75 million Chicago received upfront from the parking meter deal to pay down pension debt, instead of using the money to help cover next year’s budget deficit. Mayor Brandon Johnson had proposed using the money toward his planned 2027 pension payment. Since the City Council blocked that plan, the mayor will have to come up with another way to close next year's budget deficit. Alders who supported putting the money…

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WLS-TV Not rated US 5 hours ago
Council votes to use money from parking meter sale toward pension debt rather than 2027 budget
The Chicago City Council voted overwhelmingly to retain control of a $75 million windfall Mayor Brandon Johnson planned to use in his proposed 2027 budget, adding to the challenges facing his $17.6 billion spending plan.
WFLD Not rated US 10 hours ago
Chicago City Council votes to use $75 million parking meter payment for pension debt
A Chicago City Council vote has redirected money from the city’s parking meter deal toward pension debt. Chicago parking meter pension payment The council voted 44-6 to use the $75 million Chicago received upfront from the parking meter deal to pay down pension debt, instead...