Tax Measures and Revenues Show Mixed Results

Chicago voters gave roughly 80% support to nonbinding proposals urging a 3% surcharge on income above $1 million to fund property-tax relief and education, and also backed restoring gunshot-detection technology; Mayor Brandon Johnson cited the results while pressing for additional corporate taxes. The proposal would not enact a tax: Illinois would need to amend its constitution, and opponents warn of broader economic effects. In Washington, voters favored keeping the state’s planned millionaire’s tax; California voters appeared likely to extend an existing surcharge on high earners, while a proposed one-time tax on billionaires’ assets was trailing. In Plano, Texas, 54.6% of voters rejected a proposal to tax tickets, parking, hotels and other activities to help finance bonds for a planned Dallas Stars arena, though the broader redevelopment remained under consideration. Separately, Ireland’s corporation-tax receipts rose 23.4% to €23.9 billion in the first ten months of the year, contributing to a 10.3% rise in overall tax revenue as government spending increased 7.4%.