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Mayor Brandon Johnson's Budget Plan Facing Big Challenge at City Hall as It Goes Before Finance and Budget Committees
The plan included a corporate head tax and borrowing $1.8 billion but faced opposition over business impact and public safety funding, forcing budget talks to restart.
- On Monday, the Chicago City Council Finance Committee rejected Mayor Brandon Johnson's 2026 budget proposal by a 25-10 vote, defeating his nearly $600 million plan targeting corporations and the ultra-rich.
- Amid a projected deficit of more than $1 billion, the plan included a $21-per-worker monthly head tax on companies with over 100 employees and borrowing $1.3 billion, Johnson said.
- Early on, Pat Dowell tried to recess the Finance Committee until Dec. 2, but her motion was tabled 24 to 7 after weekend negotiations collapsed, Johnson said.
- The plan's borrowing also costs Chicago taxpayers $600 million in interest over the bonds' life, as the committee's rejection resets negotiations, Mayor Johnson said.
- The outcome also hands the City Council the same rejection as last year, with Budget Director Annette Guzman warning cuts to police and fire budgets are the only option to protect safety programs.
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The Gateway PunditReposted by 
Politics, Policy, Political News
Politics, Policy, Political NewsChicago Mayor Scrambles When Asked Why His Budget Makes the City Worse
The proposal includes a revived corporate head tax, new business surcharges, an expanded sweep of the TIF surplus, and additional long-term borrowing.
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Total News Sources16
Leaning Left1Leaning Right3Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
C 64%
R 27%
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