Ex-Law Partner Lightfoot Floated Chicago Firm Tax (Corrected)

Former Mayer Brown partner Lori Lightfoot’s landslide election victory in the Chicago mayoral race marks many important firsts for the city, and could mean another new development—a tax on transactions by major law firms located there.

The tax is still more an idea than a detailed policy proposal. But if it takes off once Lightfoot, the city’s first black female mayor-elect and its first openly gay mayor-elect, is inaugurated in May, it will likely stir up objections from Big Law attorneys, who are not accustomed to paying such fees.

Lightfoot, a Democrat, discussed her proposal as a solution to the ...