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.
The bill is SB1922.