Chicago Mayor Proposes Corporate "Head Tax"
Chicago Mayor Brandon Johnson has proposed a $21-per-employee monthly tax on large companies to help fill a nearly $1.2 billion shortfall.
The "head tax" would charge businesses a fixed fee for each of their employees, costing businesses with over 100 Chicago-based employees $21 a month per worker.
Business leaders and even a former mayor say the "head tax" could kill job creation and new investment.
- The proposed tax is expected to generate about $100 million in revenue next year.
- The fee would increase with inflation over time.
Mayor Johnson's budget proposal aims to address a projected $1.19 billion budget shortfall for 2026.
Author's summary: Chicago Mayor proposes $21 "head tax" on large companies.
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