Here It Comes!
- Mayor Rahm Emanuel is set to call for the largest property tax increase in modern Chicago history to raise enough money to make a major pension payment for police and firefighters next year, the mayor's City Council floor leader and a City Hall source told the Chicago Tribune late Wednesday.
The mayor also plans to push a new garbage collection tax, a new per-ride fee on taxis and ride-hailing services such as Uber and a new tax on electronic cigarettes and smokeless tobacco products.
Ald. Patrick O'Connor, 40th, said the idea is to cut down on the annual budget hole that has plagued the city budget for years and further scale back some of the poor financial practices. That includes scoop-and-toss borrowing, in which the city takes debt that's coming due and kicks it out into the future at a higher cost. The administration also wants to put the police and fire pension systems on a road to solvency, he added.
We've got a money saving idea - don't let the head of your schools lay off a few dozen people claiming to save $1 million, then turn around and hire more middle managers at $1.2 million. In fact, you could page through the budget, a mind-numbing task in the best of times, and lay off hundreds of Assistant Directors, Personnel Managers, Assistant Secretaries, more than a few "deputies" throughout various departments and lord knows how many other middle management types who are redundant at best. Chicago government has a spending problem, not a money problem.
Labels: money questions