Posted on 10/16/2025 5:57:07 PM PDT by CFW
Chicago Mayor Brandon Johnson's administration wants to revive the corporate head tax on big companies and increasing other taxes to plug the city’s projected budget gap of more than a billion dollars next year.
The mayor unveiled his 2026 budget plan to the Chicago City Council Thursday morning. The so-called Protecting Chicago Budget, which is subject to council approval, includes the following:
-a corporate head tax for the top 3 percent of businesses in Chicago.
-increased taxes on big tech companies.
-a new tax on large social media companies like Meta (which owns Facebook and Instagram), YouTube and TikTok.
-a tenfold increase in the vacant buildings fee.
-a new hemp tax.
Chicago Politics
[snip]
The corporate head tax, which Johnson calls a community safety surcharge, imposes a tax for each employee large corporations employ within city limits. It would apply to 3 percent of large corporations and generate $100 million, according to the mayor's office. The surcharge would be $21 per employee per month for employers with at least 100 employees who spend at least 50 percent of their time in Chicago, according to Chicago's budget director, Annette Guzman. The $21 fee will increase by inflation.
(Excerpt) Read more at nbcchicago.com ...
Large companies are scouting for out of city/state relocation sites even as we speak.
Do politicians know that you can cut deficits by reduced spending, not just raising taxes? They need to remember that even businesses can move.
A few weeks ago, I heard a CEO of a business (I forget now which one) that moved to Florida state that he now wished he had moved his business out of Chicago sooner.
More taxes.
Genius! That always works. /sarc
The funny thing is...
Chicago is now *3 months late* billing property taxes.
It makes me laugh - because I do actually know roughly what the ridiculously high number will be.
But, since my fair city wants to continue to elect morons? Whatever.
I know my 2nd property tax bill will be roughly 5k They can’t get their act together?
Fine... not a ton of money, but yields on cash equivalents are relatively nice right now. So - I’ll keep dribbling in a few bucks while they get their act together.
It’s the incompetence that annoys me. I have plenty of objections to the cost and how it is spent - but you can’t even send me the bill?
Good lord fellow Chicagoans... vote for satan if satan would just promise to remit the bills on time.
That’s literally where we’re at.... I love Chicago and am keeping my home here regardless, but the D machine cannot even *calculate and collect* its ‘taste’ on time.
It’s like living under an addled mob boss that you know is gonna shake you down, but is soiling his pants, and not even capable of telling you what you have to pay him in the racket.
COMPANIES CAN RELOCATE——THEY JUST HAVE TO DECIDE TO DO SO.
THERE ARE COMPANIES THAT SPECIALIZE IN ASSISTING SUCH MOVES.
STATES WITHOUT ANY INCOME TAX WOULD LOVE THE BUSINESS
For some reason they never think about reducing spending.🙄
THERE ARE COMPANIES THAT SPECIALIZE IN ASSISTING SUCH MOVES.
STATES WITHOUT ANY INCOME TAX WOULD LOVE THE BUSINESS
Businesses have been increasingly moving to southern states over the past few years. This plan would just escalate the number of those moving out of Illinois and into TN, SC, GA, and FL.
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