The Chicagoland Chamber of Commerce issued the following statement regarding the City of Chicago’s FY26 Budget:
“We appreciate the leadership of the members of City Council rejecting a head tax, making a full pension payment, and passing a revenue package that avoids directly taxing jobs in Chicago. However, this budget remains deeply concerning for Chicago’s business community and falls short of true shared sacrifice.
“The inclusion of the nation’s highest Personal Property Lease Transaction Tax impacting businesses of all sizes and sectors, along with numerous other new and increased taxes, fees, and fines, once again placed a disproportionate burden on Chicago businesses to fill the gaps created by the administration’s fiscal mismanagement. We are at a critical moment for Chicago’s economic future, and businesses are being asked to absorb costs that will drive up operating expenses, discourage investment, and make it harder for employers to hire, expand, and stay in the city. This budget represents an improvement from earlier proposals thanks to the collaboration with leaders in City Council. However, much more work is needed to rein in spending, identify efficiencies, and adopt pro-growth policies that will set the city up for long-term success.
“We must restore stability and confidence in the city’s fiscal leadership. We stand ready to immediately begin work on the 2027 budget with city leaders and stakeholders to advance the responsible reforms needed to attract and support new employers, expand growing industries, and strengthen our tax base through opportunity and investment in every neighborhood,” said Jack Lavin, President and CEO of Chicagoland Chamber of Commerce.