Mayor's Budget, Tax Package Clear First City Council Hurdle
CHICAGO (CBS) -- Parts of Mayor Rahm Emanuel's $8.2 billion budget plan cleared a committee hurdle on Monday, with relatively little debate.
By an 18-3 vote, the City Council Finance Committee gave its blessing to the mayor's $50 million revenue package to pay for the hiring of hundreds of new police officers.
The package includes a 7-cents-per-bag tax on paper and plastic bags, a $14-an-hour parking fee for loading zones in three wards near downtown, doubling parking meter rates at 820 spaces near Wrigley Field during games or other events, more than 750 new metered parking spaces around the city, higher parking rates at the city's airports, a new ground transportation tax on taxis, limos, and buses that drive to the airports, and more.
Aldermen already had approved $1.2 billion in tax increases to fund municipal worker's pensions. That's why Ald. John Arena (45th) said he only focused on a plan to create a $100 million "catalyst fund," which the mayor has said is designed to boost economic development in the city's "most resource-starved neighborhoods."
"We're creating a new entity for city money to be invested in a unique way. I applaud the Treasurer's creativity, but we need to make sure that, when we're being creative with public dollars that we also have a commensurate level of oversight so that we can make sure we can pull back from the brink if we're going into investments that are unsound or that's getting off track," he said.
Arena was one of the three aldermen to vote against the revenue package.
The next step in the budget process is to consider any possible amendments from aldermen before a full City Council vote later this month.
