Chicago Mayor Says Head Tax Would Have Prevented Deficit
Mayor Brandon Johnson said alternative revenue ideas have produced no money so far, leaving the city’s main operating fund $32 million under budget.
- On Tuesday, Chicago Mayor Brandon Johnson reported that the city faces a projected shortfall of more than $130 million this year, citing underperforming revenue measures in the City Council-backed budget.
- Rejecting Johnson's proposed corporate head tax, the City Council passed the 2026 budget last December over his objections, relying on alternative revenue streams like debt sales and advertising that have failed to generate funds.
- The Budget Accountability Coalition claims the mayor is 'slow-walking' revenue implementation, while city reports confirm the $89 million debt sale and $29 million advertising plans have yielded zero revenue to date.
- Blaming aldermen for the shortfall, Mayor Johnson warned he is 'working hard to avoid layoffs and cutting services,' though the City Council Committee on Budget and Government Operations has not yet discussed the report.
- As the city moves toward the 2027 election, with all 50 aldermanic seats on the ballot, the upcoming budget battle suggests a repeat of the tense political conflict that defined last year's legislative process.
12 Articles
12 Articles
Chicago mayor says head tax would have prevented deficit - Regional Media News
(The Center Square) - Chicago Mayor Brandon Johnson says his proposed corporate head tax would have prevented his administration's projected budget shortfall of more than $130 million. The mayor announced the projected deficit in this year's $16.7 billion budget Tuesday and said there were other options. "The corporate head tax, which was projected to bring in $100 million, would have prevented this shortfall," Johnson said. Last December, the c…
Mayor Brandon Johnson warns of $130M budget shortfall, blames City Council opponents – WGNTV (Chicago)
“Gaps have emerged due to the regressive revenue options that members of the City Council that were more aligned with corporate interests put forward," Johnson said. To shore up city finances, the mayor says he’ll again turn to progressive revenue. He’s already discussed the possibility of revisiting a millionaire’s tax with House Speaker Emanuel Chris Welch.
Hanford Sentinel
Lodinews.comChicago Mayor Brandon Johnson says aldermen’s provisions in budget $130 million short
CHICAGO — Mayor Brandon Johnson took an early jab at budget opponents Tuesday, revealing a set of revenues backed by what he dubbed the “corporate caucus” in this year’s budget have so far come up $130 million short. The mayor’s…
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