One day after Chicago Public Schools approved a $10.2 billion budget, Chicago City Hall released its outlook ahead of budget season, revealing it will end the year in the hole to the tune of $146 million.

The deficit paves the way for a city plan Mayor Brandon Johnson said will rely more on the “ultra rich” and businesses.

"The ultimate goal is to challenge those with means to contribute more to the vitality of our city," Johnson said.

The mayor has ruled out a property tax increase for 2026, but other so-called “progressive revenue” possibilities remain on the table, including reinstating the city’s $4-a-month head tax on large employers, taxing digital advertising revenue and a city-level corporate income tax.

All are options that will require city council approval.

"Without signi

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