CHICAGO (WLS) -- During his campaign, Mayor Brandon Johnson promised to raise $800 million in new revenue for Chicago, without touching property taxes, which are usually how cities come up with the money they need in a pinch.
But with ideas like a financial transactions tax and a business head tax already hitting roadblocks in Springfield and the City Council, some supporters say an income tax on high earners may be one of the mayor's only remaining options for raising significant revenues.
[Ads /]
SEE ALSO: How protect yourself from scammers after your tax return, social security number
Johnson has not endorsed a city income tax. But a plan backed by many of his allies and supporters would levy a 3.5% tax on all household income above $100,000. Supporters say it could generate more than $2 billion in new revenue for Chicago, all without hitting its poorest residents or touching property taxes.
[Ads /]
Illinois Answers Project looked into how other U.S. cities have implemented income taxes, and what that might look like in Chicago. You can read their full report here.