Police And Firefighter Layoffs In HarveyThe layoffs this week of 18 firefighters and 13 police officers came after a court ordered pension payment Harvey can't afford to make.
Expert: Possible Thompson Center Sale Is Small, Positive SignThe move by Illinois House Speaker Michael Madigan to advance the possible sale of the Thompson Center is a positive sign, according to the head of the Civic Federation.
Watchdog Sees "Good News Budget" From Mayor, But Still Seeking DetailsA leading government financial watchdog has said Mayor Rahm Emanuel gave the City Council a “good news budget,” but said there are still some open questions about the 2017 spending plan.
Tax Watchdog: Delaying Lawmaker Paychecks Could Lead To State Budget DealCould the state's budget stalemate finally end after ten months? The head of a non-partisan government research group is feeling optimistic about a move to make lawmakers feel some of the financial pain, reports WBBM's Nancy Harty.
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.