Brandon Johnson unveils Chicago budget as city seeks to close deficit

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…

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