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Story summary
- Brandon Johnson (Chicago Mayor) unveiled a 2026 budget of $16.6 billion to address a $1.15 billion deficit.
- The plan raises corporate taxes, including a first-of-its-kind social media tax at 50 cents per user over 100,000, raising about $31 million for mental health services.
- The budget avoids new property taxes and protects working families.
- Local business leaders oppose the tax increases.
- The City Council must approve the proposal with 26 votes.
