Tag: pensions

Nothing personal, everything structural: What Chicago needs from its new mayor

Rahm Emanuel shocked the political world earlier this month in announcing he will serve the rest of his term as a lame duck. Songs of rejoicing erupted from Chicagoans across the political spectrum, who see Emanuel’s exit as an opportunity for their preferred leader to push for their preferred interests on the fifth floor of City Hall.... Read more »

Emanuel plans utility-tax hike to fund pensions

UPDATE: The Chicago Sun-Times reports Chicago Mayor Rahm Emanuel is planning to slap a new 7 percent tax on water-sewer bills. The hike is expected to cost the average homeowner $50 more next year, and $200 more when fully phased in over the next four years. Soon after passing a massive property-tax hike, City Hall... Read more »

Chicago Public Schools spent $100K to lobby Springfield for more money

Chicago Public Schools, or CPS, has spent $103,000 to lobby state lawmakers for a larger share of state funding, according to a June 18 report form the Chicago Sun-Times. A majority of the money went to transport and feed CPS supporters during a trip to Springfield in May. A marketing firm, consulting company and animation... Read more »
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After record tax hike to fund pensions, Chicago borrows $220M for pensions

In his most recent budget address, Chicago Mayor Rahm Emanuel said his 2016 budget would “eliminate the structural deficit once and for all.” But mere months after passing a record-setting property-tax hike, nearly all of which will go to fund pensions for police and firemen, Chicago still doesn’t have enough cash on hand to make... Read more »

Smokeless-tobacco tax not a fix for Chicago’s pension problems

Alderman Proco Joe Moreno, 1st Ward, has proposed taxing smokeless tobacco at 30 percent in an effort to pay down some part of the city’s $30 billion pension shortfall. Smokeless-tobacco products contain tobacco that’s not burned, including chewing tobacco and snuff but not e-cigarettes, and have become increasingly popular in recent years. It’s possible that... Read more »