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.
Antioch Vote On Reopening Fire Station Still UndecidedVoters in the village of Antioch approved a property tax hike for more ambulance service by more than 300 votes, but in unincorporated Antioch Township, the tax increase was ahead by only 8 votes, with more votes to be counted.
Council Hiking Chicago Phone Fees To Fund Pension SystemsAldermen have approved a plan to hike the city’s monthly 911 surcharge on phone bills by 56 percent to help shore up the city’s pension funds, and avoid a property tax hike before next year’s elections.
Mayor Defends Controversial School Budget MovesMayor Rahm Emanuel defended the Chicago Public Schools’ use of what some would call a fiscal “gimmick” to balance its $6.8 billion budget for next school year.
Aldermen Back Mayor's Plan To Hike Phone Tax To Fund PensionsMayor Rahm Emanuel said he has lined up enough City Council support to increase the monthly surcharge added to phone bills in Chicago, as part of the effort to address the city’s pension crisis.
Quinn Signs Legislation For Chicago Pension OverhaulIt’s deadline day for Gov. Pat Quinn. He has until midnight to decide how to act on legislation to overhaul some of Chicago’s underfunded employee pension systems.
Quinn Still Won't Spell Out His Plans For City Pension Reform LegislationA plan to overhaul some of Chicago’s underfunded employee pension systems could spell a long weekend for Gov. Pat Quinn, who has until Monday to decide what to do with the legislation on his desk.
Mayor Urges Governor To Sign Chicago Pension Reform PlanMayor Rahm Emanuel essentially told Gov. Pat Quinn on Thursday, "I scratched your back, now you scratch mine," when it comes to pension reform, amid signs the governor might veto or significantly alter legislation to reform two city pension funds.
Quinn, Emanuel Still At Odds Over Pension ReformGov. Pat Quinn’s offer to give cities a bigger cut of income tax revenues to help with pension debts without raising property taxes met with a lukewarm reception from the Emanuel administration.
House, Senate Approve Chicago Pension Reform PlanThe legislation sponsored by House Speaker Michael Madigan overcame earlier resistance after the Chicago Democrat removed language mentioning the tax increase. Opponents feared they'd be blamed for a Chicago tax increase.
Lawmakers Fear Blame For Chicago Pension Tax HikeA fast-tracked plan to overhaul two Chicago city-pension programs slowed in the Illinois House Thursday, as nervous lawmakers said they fear backlash for a massive property-tax increase even if they don't directly approve it.
Emanuel Pension Plan Clears First Hurdle In Springfield Mayor Rahm Emanuel's plan to reform two underfunded employee pension systems quickly took its first step toward approval in the Illinois General Assembly on Wednesday.