Chicago's Budget: What Are Residents Paying For?Facing an unprecedented $1.2 billion shortfall for next year, Mayor Lori Lightfoot on Wednesday proposed a $94 million property tax hike, a 3 cents per gallon increase in the city's gas tax, hundreds of layoffs, and eliminating nearly 2,000 vacant positions.
Ads For And Against Illinois Graduated Income Tax Proposal Are Ubiquitious, So What's The Truth?We’re being bombarded by them – ads for and against the graduated income tax proposal for Illinois that will be on the ballot next month.
State Budget That Depends On Federal Help, Other Pieces Of Legislation Now Await Gov. Pritzker's SignatureIllinois state lawmakers were back home in their districts for the holiday Monday, after a whirlwind of a special session in Springfield. Two of the winners after votes were cast were the City of Chicago and state restaurant and bar owners.
Civic Federation's Laurence Msall: Staggering Unemployment Claims Will Put Major Strain On Illinois, Chicago BudgetsThe math is staggering – according to the U.S. Department of Labor, there were 114,663 unemployment claims in Illinois alone last week amid the coronavirus crisis.
Mayor Lori Lightfoot Says 2020 Budget Plan Doesn't Include Large Property Tax Hike, But Needs Help From SpringfieldThe mayor's plan relies on the Illinois General Assembly to approve a graduated real estate transfer tax, revisions to the Chicago casino plan, and statewide pension reform.
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.