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flag Chicago’s mayor pushes a $1.15B budget with a corporate tax, facing opposition but citing public support and urgent needs.

flag Chicago Mayor Brandon Johnson is pushing a $1.15 billion deficit-reducing budget centered on a $21 monthly corporate head tax on large employers, despite opposition from half the City Council, Governor Pritzker, and business groups. flag He argues the tax is essential to fund public safety, education, and social services, citing recent Democratic wins as proof of public support. flag The plan includes $1 billion for schools, firefighter back pay, police settlement debt, and Greyhound station rehab. flag S&P Global warned of a possible credit downgrade due to weak reserves and pension issues. flag The City Council is set to vote before Thanksgiving, with Johnson holding a tiebreaking vote.

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