Budget + Tax

Vallas: 4 reasons why ‘mansion tax’ is bad for Chicago business

Vallas: 4 reasons why ‘mansion tax’ is bad for Chicago business

Two false labels are attached to Chicago Mayor Brandon Johnson’s push to tax high-dollar real estate sales. It’s not a “mansion tax.” It taxes mainly businesses. It won’t help “Bring Chicago Home.” It will fuel businesses moving out.

By Paul Vallas

Vallas: City budget passes, next fiscal crisis looms

Vallas: City budget passes, next fiscal crisis looms

Now that Chicago Mayor Brandon Johnson has passed his first budget, attention should be on the Chicago Public Schools. School leaders claim it will have a budget hole of over $600 million by 2025.

By Paul Vallas

Chicago City Council puts ‘mansion tax’ on March 2024 ballot

Chicago City Council puts ‘mansion tax’ on March 2024 ballot

The Chicago City Council is asking voters on the March 2024 ballot to approve or reject a tax increase on the sale of $1 million properties. The move will mainly hit commercial properties, adding to Chicago’s anti-business reputation.

By Dylan Sharkey

What Mayor Brandon Johnson’s 2024 budget means for Chicagoans

What Mayor Brandon Johnson’s 2024 budget means for Chicagoans

Chicago Mayor Brandon Johnson presented his first budget to other city leaders on Oct. 11. While he kept his promise not to raise property taxes, there are other fiscal challenges that will hit taxpayers hard in the future and need to be addressed now.

By Josh Bandoch

The Policy Shop: Chicago’s accelerating wealth flight

The Policy Shop: Chicago’s accelerating wealth flight

This edition of The Policy Shop is by policy advisor Paul Vallas. Chicago Mayor Brandon Johnson’s promises are colliding with his problems, which will be on full display today when he delivers his budget address to the City Council. There’s a $538 million projected deficit. There are over 17,000 migrants expected to cost the city...