Overview
- The City Council’s Finance Committee voted 25–10 to reject Mayor Brandon Johnson’s revenue package for the 2026 budget.
- An effort to recess the meeting to Dec. 2 was tabled 24–7 after an earlier attempt to postpone failed, leaving negotiations to resume at a later session.
- The ordinance up for vote included a corporate head tax on companies with 100 or more employees and a $18 million Community Business Grant Program targeted to underserved areas.
- Budget officials also presented a $1.8 billion borrowing plan—$1.3 billion for capital work, $283 million for settlements, and $166 million for retroactive pay—with about $50 million in lifetime interest costs.
- Budget Director Annette Guzman warned that without the head tax, preserving community safety and youth programs would require service reductions, while council critics said they will now drive the budget process.