Mayor-elect Emanuel’s real counterpart in county government is dealing with an estimated budget shortfall of $487 million. In her transition report last December, Cook County Board President Toni Preckwinkle floated some ideas on how to close that budget shortfall.
The State of Illinois will find out this week how willing investors are to buy the state’s bonds, which are rated the lowest in the country by Moody’s. The state plans to sell $3.7 billion worth of bonds as early as tomorrow to make this year’s pension payment.
Cook County commissioners are scheduled to discuss a new budget this week and they're still at odds over the effects of a controversial sales tax.Cook County Board President Toni Preckwinkle campaigned on rolling back a one percentage point increase in the sales tax.