The measure failed by a vote of 26 to 18.
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Mayor Lori Lightfoot, who championed lowering the threshold from 10 mph to trigger a ticket to 6 mph over the speed limit, had expressed her disapproval of the measure.
SEE MORE: Chicago City Council speed camera vote delayed again as meeting devolves into chaos
"I can't support this either because I am a parent and also a pedestrian. I say give them an inch they will take a mile," said 24th Ward Alderman Monique Scott.
Alderman Anthony Beale had proposed raising that back to 10 miles per hour over the speed limit.
"This is targeting specific neighborhoods, saying I'm going to take from you every single day," said 15th Ward Alderman Ray Lopez.
RELATED: Group says Chicago's new speed camera law unfairly impacts minority drivers
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Mayor Lightfoot has said raising speeds for drivers will only increase traffic-related crashes and deaths, while the alderman said residents are being hit with very expensive fines.
Aldermen vote down speed camera changes after Mayor Lightfoot veto threat
In November, the ABC7 data team analyzed speed camera tickets since the law was changed and found 84% of all tickets issued were for drivers going 6 to 10 mph over the speed limit.
The speed camera citations have generated $59 million in revenue for the city since being imposed in March of last year.
In the first half of 2022, the city issues 1,131,686 speeding tickets, down 14% from 2021 though still significantly higher than years before the new law was in effect. In 2021, between January and June, the city issued 1,312,940 speeding tickets while in 2020 they issued 378,632 speed tickets and in 2019 they issues 405,378 in the same time period.
An ordinance was also be introduced Wednesday to help protect the mental health of Chicago police officers by ensuring they get regular days off, following recent suicides in the department.