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Chicago's Task Force Proposes $1.65B Tax Hike Amid Deficit

9/23/2025

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Summary

Story summary

Mayor Brandon Johnson's task force proposes new taxes to close Chicago's deficit, potentially raising $1.65 billion annually.
It backs automatic property tax indexing to inflation, critics say, reducing accountability.
It also flags a regressive corporate head tax that could burden businesses already facing COVID impacts.
Projected spending cuts would save $372 million to $455 million from vacancies and benefit cuts.

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Story summary

Mayor Brandon Johnson's task force proposes new taxes to close Chicago's deficit, potentially raising $1.65 billion annually.
It backs automatic property tax indexing to inflation, critics say, reducing accountability.
It also flags a regressive corporate head tax that could burden businesses already facing COVID impacts.
Projected spending cuts would save $372 million to $455 million from vacancies and benefit cuts.