Oct 20, 2026 · 25 min · 18 segments
Crain's commercial real estate reporter Danny Ecker joins host Jeanne Sparrow to explain why a developer…
Jeanne SparrowHost
Danny EckerGuest
Chicago Mayor Brandon Johnson is preparing to unveil his 2027 budget proposal Wednesday, featuring a revamped and highly controversial corporate head tax aimed at helping close an $882 million deficit.
Dubbed the Equitable Employers Tax, the proposed plan would charge companies with more than 125 employees $25 per worker each month.
To win over skeptics, the administration is offering tax credits for businesses that hire workers spending at least half their time in Chicago's most socioeconomically disadvantaged neighborhoods.
As Crane's Justin Lawrence reports, this marks Johnson's second attempt to pass an employer tax after the city council overwhelmingly rejected similar proposals last year.
The revised tax is projected to generate roughly $100 million in revenue, though it faces an uphill battle with a council majority that has consistently warned against reviving the measure.
Defending the plan in a recent interview, Mayor Johnson argued that working class residents leaving the city is a far greater concern than businesses threatening to relocate.
Beyond the head tax, the mayor's proposed fair share budget relies on several other revenue streams, raising the city's lease transaction tax, which affects everything from cloud computing to film production from 15% to 20%, bringing in an estimated $220 million, executing another sweep of tax increment financing or TIF district funds, lowering the budgeted forecast for legal settlements.
Facing fierce pushback from aldermen, the mayor's office is taking its pitch directly to the public through social media collaborations and an upcoming virtual town hall.
Chicago Mayor Brandon Johnson is preparing to unveil his 2027 budget proposal Wednesday, featuring a revamped and highly controversial corporate head tax aimed at helping close an $882 million deficit.
Dubbed the Equitable Employers Tax, the proposed plan would charge companies with more than 125 employees $25 per worker each month.
To win over skeptics, the administration is offering tax credits for businesses that hire workers spending at least half their time in Chicago's most socioeconomically disadvantaged neighborhoods.
As Crane's Justin Lawrence reports, this marks Johnson's second attempt to pass an employer tax after the city council overwhelmingly rejected similar proposals last year.
The revised tax is projected to generate roughly $100 million in revenue, though it faces an uphill battle with a council majority that has consistently warned against reviving the measure.
Defending the plan in a recent interview, Mayor Johnson argued that working class residents leaving the city is a far greater concern than businesses threatening to relocate.
Beyond the head tax, the mayor's proposed fair share budget relies on several other revenue streams, raising the city's lease transaction tax, which affects everything from cloud computing to film production from 15% to 20%, bringing in an estimated $220 million, executing another sweep of tax increment financing or TIF district funds, lowering the budgeted forecast for legal settlements.
Facing fierce pushback from aldermen, the mayor's office is taking its pitch directly to the public through social media collaborations and an upcoming virtual town hall.
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