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.”
The plan abolishes the city’s grocery tax and lowers the motor vehicle rental tax from $2.75 to $0.50, while introducing a $21-per-employee head tax on companies with more than 100 workers. It also raises from 11 percent to 14 percent the Personal Property Lease Tax—often called the “cloud tax”—which applies to digital services and software platforms such as cloud computing, streaming, and AI tools like ChatGPT….