Watch CBS News

Mayor proposes social media tax, record TIF surplus in 2026 budget plan

Name: Mayor proposes social media tax, record TIF surplus in 2026 budget plan
Uploaded: 2025-10-16T17:25:00-0500
Duration: 2 min 14 s
Description: Mayor Brandon Johnson announced a $16.6 billion budget plan for 2026 on Thursday, relying on a number of new or increased taxes on corporations to close a $1.2 billion shortfall while protecting the city from funding cuts by the Trump administration.

Mayor Brandon Johnson announced a $16.6 billion budget plan for 2026 on Thursday, relying on a number of new or increased taxes on corporations to close a $1.2 billion shortfall while protecting the city from funding cuts by the Trump administration.