Chicago Mayor Revives Corporate Tax Once Dubbed ‘Job Killer’
Chicago Mayor Brandon Johnson has proposed a plan to address the city's $1.19 billion budget deficit. The plan includes raising taxes on large corporations, big tech companies, and the wealthy. This corporate tax, which was previously dubbed a "job killer," is part of the mayor's strategy to generate revenue and close almost half of the deficit. The proposal aims to target large businesses and high-income individuals to help balance the city's budget. While the details of the tax hike are still being discussed, the mayor's office believes it is a necessary step to address the city's financial challenges. The plan has sparked debate, with some arguing that it could have negative economic consequences, while others support the idea of larger corporations and the wealthy contributing more to the city's revenue.
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