Chicago City Council's Finance Committee voted down Mayor Brandon Johnson's 2026 revenue proposals Monday. The steepest hill for the mayor will likely be convincing enough alderpeople to approve his corporate head tax proposal, which would charge large companies $21 per employee per month. Ald. Brendan Reilly used the increase in property taxes as part of his argument of why he opposes the current budget proposal. He noted that due to vacant office space downtown Chicago, Cook County assessors reduced the assessed value of some commercial buildings, shifting the burden to homeowners. He said the corporate head tax would only make the problem worse. Johnson reiterated Monday that he would veto a budget plan that increases property taxes next year. #chicagobudget #propertytax #headtax