Quinn signs pension reform bill, urges no property tax hike
Fran Spielman: Chicago Sun-Times
Chicago property owners got a one-year reprieve Monday after Gov. Pat Quinn put aside his political differences with the mayor and signed a Chicago pension reform bill.
The governor asked Mayor Rahm Emanuel to steer clear of a property tax increase and find other revenues to fund the city’s five-year, $250 million pension obligation.
Emanuel obliged — at least temporarily.
In an interview with the Chicago Sun-Times hours after the bill signing, Emanuel said he has “taken property taxes off the table for the first year,” thanks to a telephone tax increase he called “another tool in our tool box that gives us additional ways to address our obligations.”
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