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Chicago Mayor Proposes $16.6B Budget, New Taxes Ahead

10/22/2025

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Summary

Story summary

Chicago Mayor Brandon Johnson presented a $16.6 billion budget for 2026.
The plan includes over $400 million in new taxes.
It adds a $21 monthly 'community safety surcharge' for large businesses and taxes on social media and cannabinoid hemp.
The budget aims to address a $1 billion fiscal gap without raising property taxes.
Council hearings will continue through mid-November with a final vote by year-end.

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Story summary

Chicago Mayor Brandon Johnson presented a $16.6 billion budget for 2026.
The plan includes over $400 million in new taxes.
It adds a $21 monthly 'community safety surcharge' for large businesses and taxes on social media and cannabinoid hemp.
The budget aims to address a $1 billion fiscal gap without raising property taxes.
Council hearings will continue through mid-November with a final vote by year-end.