The Block Club Chicago Podcast “This Budget Is A Disaster” -- The Committee That Told The Mayor 'No'
Nov 18, 2025
Quinn Myers, a city hall reporter for Block Club Chicago, dives deep into the tumultuous journey of Mayor Brandon Johnson's 2026 budget proposal. He explains the staggering $1.2 billion shortfall and the finance committee's pivotal rejection of the revenue ordinance. The discussion unpacks the controversial corporate head tax, illustrating its implications for businesses and the city's fiscal strategy. Myers also sheds light on the political dynamics within the council, highlighting the ongoing tensions and negotiations crucial to achieving a balanced budget.
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City Facing Large, Immediate Shortfall
- Chicago faces an approximate $1.2 billion budget deficit for 2026 and must pass a balanced budget by year-end.
- The finance committee decisively rejected the mayor's revenue ordinance, deepening uncertainty.
Head Tax Central To Revenue Plan
- The mayor's most controversial proposal is a corporate head tax meant to raise about $100 million.
- The finance committee rejected that revenue plan, signaling political resistance to the proposal.
History And Details Of The Head Tax
- Chicago previously had a head tax for almost 40 years before it was phased out under Rahm Emanuel.
- Mayor Johnson proposed $21 per employee for larger companies, then adjusted thresholds and proposed an $18 million grant program.