SPRINGFIELD, Ill. (AP) — Some Illinois lawmakers are hesitating to support a massive Chicago city-pension overhaul because they fear they’ll be blamed for a $750 million property-tax increase.
Mayor Rahm Emanuel says he has agreement with city unions to cut a $20 billion deficit in two pension accounts over 40 years in part through the massive, five-year increase in property taxes. The General Assembly must approve the changes.
House Speaker Michael Madigan – a Chicago Democrat – intends that the legislation will permit Chicago to raise taxes for the purpose of shoring up pensions. A spokesman says that’s to ensure the money goes to solve the pension mess.
But some legislators say city officials should determine how Chicago pays for the fix.