Critics of the Bring Chicago Home ballot referendum said Chicago's business community was "breathing a sigh of relief" Wednesday " a day after the referendum apparently failed at the polls. While votes were still being counted late Wednesday, it appears the effort to raise the transfer tax on million-dollar homes to fight homelessness was defeated. The latest update shows 54% of Chicago voters cast their ballots against the proposal. The Bring Chicago Home referendum was a marquee initiative of Mayor Brandon Johnson and his progressive allies on the City Council in an effort to raise more money to fight homelessness. The measure asked voters to authorize the City Council to increase the real estate transfer tax on the sales of properties for $1 million or more in Chicago.