BOMA/Chicago Pushes Back on a Harmful City Budget

As the City of Chicago grapples with a projected $1.2 billion budget shortfall, BOMA/Chicago is actively engaged with the City Council and the City of Chicago to ensure our members’ voices are heard. While fiscal challenges demand shared solutions, the current budget proposal threatens to undermine Chicago’s economic momentum. The introduction of a head tax and an increase in cloud tax would place added strain on commercial office buildings and the businesses that occupy them, many of which are still working to regain stability in today’s challenging office marketplace. Worse still, the head tax will ripple through the economy, as vendors and service providers subject to the tax pass those costs down to building owners and tenants, compounding financial pressure on already overburdened properties.

These proposed measures are job-killers and will harm downtown revitalization. They send a clear signal to employers and investors that Chicago does not welcome business investment, at a time when we should be incentivizing growth and attracting new tenants to our downtown and commercial corridors.

BOMA/Chicago will continue advocating for a budget that supports a thriving economy, protects jobs, and strengthens our city’s future.