Resolute Leads Coalition to Defeat Real Estate Transfer Tax Referendum in Chicago

Chicago voters have spoken, rejecting the Real Estate Transfer Tax referendum that appeared on the March 19th Primary Election ballot.

The Keep Chicago Affordable (KCA) campaign, led by Resolute’s Greg Goldner, forged a coalition uniting labor, businesses and community organizations to defeat this poorly constructed and defined ballot issue.

Had it not been defeated, the Real Estate Transfer Tax would have created substantial hardship to Chicago’s economy. Its passage would have reduced economic investment and financing opportunities that drive the City’s growth, significantly decreased real estate transactions and freeze up the local economy, and ultimately reduced the number of construction and permanent jobs in Chicago, devastating our middle class.

Voters clearly saw the proposed real estate transfer tax for what it is – bad policy that can and should be defeated. The proposal will not build affordable housing, solve homelessness, provide mental health services or address the migrant crisis.

Supporters of this tax claimed this proposal would do all the above and more, but voters saw through the rhetoric and came to the conclusion the referendum was too badly constructed, too poorly defined and a cynical public policy effort that would result in a revenue stream far too unpredictable to accomplish its own stated goals.

This defeat of the referendum safeguards affordability for Chicagoans and underscores Resolute’s ongoing ability to develop campaigns that resonate with stakeholders and move them to action.