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Chicago Mayor Proposes Corporate Tax Amid $1.2B Deficit

12/12/2025

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Summary

Story summary

Chicago Mayor Brandon Johnson faces a nearly $1.2 billion budget deficit as pandemic aid diminishes.
He proposed a corporate head tax of $33 per employee for larger companies to raise funds.
A recent budget meeting yielded no agreement, with some city council members favoring cuts over new taxes as the end of the month approaches.
Johnson vows to protect low-income residents during budget negotiations.

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Story summary

Chicago Mayor Brandon Johnson faces a nearly $1.2 billion budget deficit as pandemic aid diminishes.
He proposed a corporate head tax of $33 per employee for larger companies to raise funds.
A recent budget meeting yielded no agreement, with some city council members favoring cuts over new taxes as the end of the month approaches.
Johnson vows to protect low-income residents during budget negotiations.