Chicago Mayor Rahm Emanuel eyes utility tax increase to save largest pension fund - Remember when you say it's for the "CHILDREN" or for the "PENSIONS" it's easier to swallow......
Unwilling to hit property owners for the third time in one year, Mayor Rahm Emanuel plans to raise the city’s utility taxes to save the largest of Chicago’s four city employee pension funds, City Hall sources said Monday.
Chief Financial Officer Carole Brown acknowledged that the city needs “in the ballpark” of $250 million to $300 million in new annual revenue to shore up a Municipal Employees Pension fund with 71,000 members and $18.6 billion in unfunded liabilities.
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