Civic Federation Provides Qualified Support for Chicago’s Proposed FY2021 Budget – Civic Federation

“By and large, the Civic Federation supports the goals of Mayor Lightfoot and her team in preparing this budget, including relative restraint with property taxes, reduction in personnel expenses and working to increase public participation in the budgeting process,” said Federation President Laurence Msall. “Our support remains qualified because, disappointingly, the public has not been provided with nearly enough detail to independently evaluate the enormous proposed debt refinancing.”

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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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