Push for City to Take Over ComEd Fizzles For Now Amid Pandemic, Budget Crisis – WTTW (Chicago)

The push to create its own utility could cost the city between $5 billion and $10 billion — a price tag that could be covered by borrowing against future revenues, supporters say. Freshman Ald. Daniel La Spata (1st Ward) said, “I don’t think there is an appetite for risk. This is a terrible time to make decisions with long-term ramifications.”

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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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