The Chicagoland Chamber of Commerce has expressed its concerns regarding the recently approved fiscal year 2025 budget for the City of Chicago. The Chamber's statement highlights dissatisfaction with the city's approach to addressing rising government costs.

"With only days remaining until the start of the new fiscal year, it is disappointing that, once again, the city is relying almost entirely on Chicago residents, families, and businesses to pay for the ever-rising costs of government by raising revenue rather than embracing shared sacrifice and doing the much more effective work of identifying meaningful and lasting reforms, spending reductions and efficiencies within city government," said Jack Lavin, President and CEO of Chicagoland Chamber of Commerce.

The statement criticizes several tax increases included in the budget. These include a 22% increase in the Personal Property Lease Transaction Tax (also known as "cloud tax"), amusement taxes on cable and streaming services, parking and transportation taxes, bag taxes, among others. The Chamber warns that these measures will impact both residents' wallets and business operations across Chicago.

"We understand government is not free," Lavin continued. "But businesses and residents deserve a government that does not immediately turn to revenues before identifying reasonable spending reductions that protect our essential city services, including our first responders."

The Chamber remains open to collaboration with city officials to seek solutions for fiscal stability that could attract businesses and foster economic development in Chicago.