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Quinn Not Saying If He'd Sign Chicago Pension Overhaul

Thu, 03 Apr 2014 16:56:38 CDT
By: 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. Governor Quinn today wouldn't tell reporters if he would support the proposal. 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.

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