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Emanuel pledges no new taxes in Chicago budget

CHICAGO – Mayor Rahm Emanuel is promising not to increase taxes, fines or fees in Chicago's 2013 budget, despite a nearly $300 million shortfall.

Instead, Emanuel says the deficit can be erased through higher revenues from things like hotel and sales taxes, as well as reforms, cost-cutting and efficiencies.

He refused to give specifics on which city services would be trimmed and would not address the prospect of public sector layoffs.

Emanuel said only that there would be "tough calls" to make in this budget.

The mayor's first budget used $220 million in taxes, fines and fees and more than 500 layoffs to balance the books.

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