Chicago Mayor Floats Revived Tax on Corporations to Raise Cash

Chicago Mayor Brandon Johnson is considering reviving a tax on corporations to help raise revenue and balance the city’s budget.

A so-called corporate head tax is “on the table” as officials look for funds to help close back-to-back yearly shortfalls topping $1 billion, Johnson said at a press conference on Tuesday. A head tax is typically levied per employee hired by a business, so larger corporations are more impacted than smaller companies.

“It’s an option now,” Johnson said in response to reporters’ questions about such a levy. “Everything has to be on the table.”

Mayor Brandon Johnson during a House Oversight and Governmental Affairs Committee hearing in Washington on March 5, 2025.

Photographer: Al Drago/Bloomberg

The Windy City used ...