Mayor Johnson to introduce Chicago budget plan, including corporate head tax
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BudgetThe proposal will not include a property taxChicago Mayor Brandon Johnson formally introduces his budget plan Wednesday and he is expected to call for a controversial corporate head tax. Wednesday, October 21, 2026 10:10AMCHICAGO (WLS) -- Chicago Mayor Brandon Johnson formally introduces his budget plan Wednesday and he is expected to call for a corporate head tax to balance the city's finances. The mayor is not proposing a property tax increase. But the head tax is already setting up another showdown with the same group of aldermen who shot it down last year. ABC7 Chicago is now streaming 24/7. Click here to watchThe mayor is proposing what his administration calls an "equitable employer tax" of $25 a month per employee for companies with more than 125 full-time workers. Businesses in disadvantaged areas, mainly on the South and West sides, would get rebates. The plan also nearly doubles the sports betting tax and raises the tax on leased property and cloud computing from 15 to 20 percent. Last month, 29 aldermen signed a letter warning the mayor they would not support a head tax.
This article is an excerpt. To read the full content, visit the original source. ABC7 Chicago
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