As Chicago faces a major deficit for fiscal year 2026, Mayor Brandon Johnson is considering resurrecting a failed idea that punishes job creation: the corporate head tax.

Each Chicago taxpayer is on the hook for $40,600 in city debt today, the second most among major U.S. cities. Add in the debt Illinois state leaders grew last year, and Chicago taxpayers owe nearly $80,000.

A new bill in Springfield would require the Chicago Bears and other teams to have a few winning seasons before they can expect taxpayer help for stadiums.

Chicago might have just avoided a property tax hike, but city leaders couldn’t figure out how to pass the 2025 budget without other tax and fee increases. Here’s what the city should do to avoid repeating the same budgeting mistakes next year.