Chicago mayor, CFO react to S&P Global dropping city’s debt rating – Center Square

The S&P statement said Chicago’s practical options for raising new revenue “appear less certain, as does the willingness of city leadership to cut spending, creating a level of uncertainty around its financial trajectory that is more appropriately reflected in the lower rating.” The mayor said he would consider a congestion tax, and he criticized outgoing Chicago Public Schools CEO Pedro Martinez, saying Martinez’ budget did not provide enough money for Chicago Teachers Union members.