Laurence Msall

Expert Says Potential City Property Tax Increase "Not Going To Be Enough" A top Chicago city official agrees with budget experts that a possible property tax hike alone will not end the city's financial crisis, reports WBBM Political Editor Craig Dellimore.
Emanuel To Seek $500M Property Tax HikeMayor Rahm Emanuel will seek a massive property tax hike later this month, as he seeks to shore up police and firefighter pension funds, and close a $750 million budget hole.
Expert: Property Tax Hikes Could Chase Chicago Businesses, Residents AwayThe Emanuel administrations’ own new estimate shows a ballooning deficit of $754 million. Half of that is tied to Springfield's doing nothing about public worker pension reform.
Civic Federation: Many Of Rauner's Proposed Cuts Not "Achievable Or Prudent"A respected budget watchdog group has come out with a sharply critical analysis of Gov. Bruce Rauner’s fiscal plan for Illinois.
Mayor Emanuel Reveals Plans For Tackling City's DebtWith the city’s bond rating just a couple levels above junk status, Mayor Emanuel told the Civic Federation he is ending or phasing out some of the city’s more questionable borrowing practices.
Mayor Emanuel Taps CTA Boss As His Next Chief Of StaffCBS 2 Chief Correspondent Jay Levine reports the mayor's gain could be bus and train riders' loss.
Chicago Has Nearly Exhausted Reserves For Snow Removal This WinterThe city budgeted $20 million for snow cleanup but has already spent $25 million. CBS 2 Chief Correspondent Jay Levine reports.
Budget Watchdog Surprised To Learn Daley Borrowed Millions To Run Millennium ParkThe Daley administration took out nearly $30 million in loans to run the park, from the year after it opened, until the former mayor left office.
Civic Federation: City's Credit Rating Hit 'Extraordinary'The head of a budget watchdog group said a major of the Chicago’s credit rating on Thursday was no surprise, but is very troubling for residents.
Watchdog Predicts $22B In Unpaid Bills For State Gov't By 2018The long list of people the state owes money to could nearly triple in five years, if lawmakers don't get costs under control, according to a local budget watchdog group.
School Budget Would Raise Property Taxes, Empty Reserve FundChicago Public School officials have unveiled their budget plan for next school year, seeking to fill a $665 million deficit with a property tax hike, personnel cuts and some one-time revenue.
Study: Local Government Pension Debt At More Than $27 BillionA report being released Monday contains troubling news about the Chicago pension plans covering various municipal employees.