Chicago's Big Money Move Hits a Snag

Chicago's mayor, Brandon Johnson, has a plan to borrow a huge amount of money. He wants to sell bonds worth $3. 8 billion. But not everyone is on board with this idea. One city council member, Alderman Bill Conway, is pushing back. He thinks the amount is too high. He wants to cut it down by more than half. Conway is a former banker, so he knows a thing or two about money. The city is facing a deadline to pass its 2026 budget. This is where the bond sale comes into play. But Conway has concerns. He's worried about what credit rating firms think. He's also worried about the rising costs of borrowing money.This isn't just about numbers. It's about the future of the city. If the city borrows too much, it could struggle to pay it back. That could lead to higher taxes or cuts in services. The finance committee is set to discuss this issue soon. It's a big decision that will affect everyone in Chicago. The city needs to balance its books, but it also needs to be careful not to dig itself into a deeper hole.