Chicago’s $12.8 Billion Budget Plan Raises Taxes, Cuts Jobs – Yahoo Finance

“It’s good that they proposed higher taxes,” said Dora Lee, director of research for Belle Haven Investments, which holds Chicago debt as part of $11 billion in muni assets under management. “Politically, it’s one of the harder things to do especially right now, but getting through the next year is going to require a lot of politically hard choices.”

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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