Chicago Mayor’s Budget Proposes Head Tax, New Levies on Cloud, Social Media, Yachts

The mayor says new revenue is needed to protect services, while critics say it could drive employers and investment out of the city.

Chicago Mayor Brandon Johnson testifies before the Committee on Oversight and Government Reform on Capitol Hill, on March 5, 2025. Madalina Vasiliu/The Epoch Times

Chicago Mayor Brandon Johnson is seeking to plug a $1.15 billion deficit with a sweeping package of new taxes and fees on large employers, tech platforms, and high-end assets, unveiling a $16.6 billion 2026 budget that raises levies on cloud services and social media users, triples mooring fees for yachts, and revives a controversial head tax.

Johnson formally unveiled the proposal to the City Council on Oct. 16, billing it as a budget that protects working families by shifting the burden onto corporations and the “ultra-wealthy.”