IL Supreme Court Decision Leaves Chicago Needing A Plan B
An Illinois Supreme Court decision is leaving Chicago officials scrambling to find money for pensions.
The Supreme Court said Thursday that the city can’t reduce retirement benefits for its employees. That means the city needs a plan B. Or, as City Council Budget Chairman Carrie Austin puts it: “Guess we’ll have to find the money!”
Austin said homeowners are already bracing for the upcoming property tax hike - so she’d prefer a tax hike on phones instead, because “that would be a little bit less taxing for our citizens.”
The mayor's office released a statement after the pension ruling that did not include suggestions for any tax or fee hikes.
Lauren Chooljian covers city politics for WBEZ. Follow her @laurenchooljian.