Just in time for budget season, Chicago’s City Hall watchdog agency is putting forth more than $2.8 billion in spending cuts and revenue hikes – from imposing a city income tax to charging tolls on Lake Shore Drive to privatizing trash collection – in order to ease a massive budget deficit.In his la
The headline on the Cook County budget website reads: "The Cook County 2012 budget: How did we get here?"And "here" includes an estimated $315 million dollar shortfall, which roughly equates to 10% of the county's total annual operating budget."
Mayor Emanuel got a second helping of public opinion on the city budget Wednesday night. The mayor held two town halls this week; he asked constituents for ideas to close the city’s estimated $635 million deficit. Much of the red ink on the city’s balance sheet bled over from the
It’s hard to take the embarrassment factor entirely out of public events: That may be a lesson for the new Emanuel administration after Monday night’s budget town hall meeting. The gatherings take place every year; they give residents a chance to tell the mayor their priorities.
Ill. Comptroller Judy Barr Topinka said Thursday that lawmakers need to take action or the state next summer could end the budget year with another huge backlog of bills. Topinka said Illinois government is still paying bills that date back to April.
Cook County Board President Toni Preckwinkle says she's open to privatizing some county services to help solve a major budget shortfall.Preckwinkle said the county is facing a $116 million budget shortfall this fiscal year and a $300 million deficit next year."
Cook County Board President Toni Preckwinkle says the county is in deep financial trouble. She said the county is running a major deficit not just through this year, but also into the next fiscal year.