The Rundown: Johnson allies push a $12 billion tax plan - Action Center on Race and the Economy

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1. Mayor Brandon Johnson’s allies unveil a tax plan named ‘First We Get The Money,’ a widely recognized reference to Scarface

The plan’s full name is “First We Get The Money: $12 Billion to Fund a Just Chicago,” a passing reference to aspiring drug lord Tony Montana’s famous advice on picking up women in the movie Scarface. (Will the education plan be called “Say Hello To My Little Friend: A Guide to Boosting Test Scores”?)

As first reported by Crain’s Chicago Business, the $12 billion financial plan “doubles down on controversial tax-hike ideas pitched by Johnson during his campaign and adds a few more — including enactment of a city wealth tax and income tax, deep cuts in police spending, and an effective end to all tax-increment financing projects.”

The proposal comes from the Action Center on Race & The Economy and the People’s Unity Platform, two groups with strong ties to the Chicago Teachers Union. The report was also co-authored by Saqib Bhatti, who serves on Johnson’s transition team.

But the “First We Get The Money” plan goes against promises Johnson made on the campaign trail, such as not cutting “one penny” from the Chicago Police Department. [Crain’s Chicago Business]