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
Communities are having a problem with vacant properties in this recession. They’re struggling to generate tax revenues, properties are deteriorating with neglect, and neighboring property values are plummeting. Most towns are scrambling to find new tenants for these buildings: businesses,
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.
Chicago Mayor Rahm Emanuel said Friday that the city's facing a $635 million budget shortfall next fiscal year.Emanuel told reporters the budget deficit isn't anything new. He didn't directly criticize former Mayor Richard Daley, but Emanuel said the issue is long-term and structural."
While many states struggle to fill budget gaps, the state of Indiana took in $150 million more than expected during the month of May. State officials reported Friday that sales tax collections were $28 million above May collections last year.