Chicago Mayor Brandon Johnson describes the 2026 budget as “Protecting Chicago,” but his plan seems to do the opposite. Taxes on Artificial Intelligence, Uber rides and companies with 100+ employees are the biggest revenue sources.
Gov. J.B. Pritzker told the Chicago Economic Club Oct. 21 that he absolutely opposes Mayor Brandon Johnson’s plan to revive the corporate “head tax” as part of his new budget proposal.
Chicago Mayor Brandon Johnson proposed a $21-per-employee monthly tax on large companies to help fill a nearly $1.2 billion shortfall. Business leaders and even a former mayor say the “head tax” could kill job creation and new investment.
Chicago Mayor Brandon Johnson’s 2026 budget proposal includes a per-user tax on social media companies and a per-employee fee on businesses. The proposal does not include a property tax hike and supports the elimination of the grocery tax.
Chicago’s 2025 budget needed $345 million in fines, forfeitures and penalties. It was $99 million 30 years ago. What will the new budget extract from residents?
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.
If Chicago’s pension systems become insolvent, the city will have to reduce benefits or make serious cuts to city services. The only way out is constitutional reform.