New taxes – and lots of them. That's what Illinois will need to dig out of its current fiscal mess, according to a new report from the Civic Federation.

With the city's finances in a dire state and Mayor Rahm Emanuel looking to borrow billions, “Chicago Tonight” sits down with the head of the City Council's independent budget office, Ben Winick.

(Raul Lieberwirth / Flickr)

In a surprising setback, City Council aldermen came out against the mayor’s proposed ordinance for a $6 million tax on tobacco products. Why did City Council go against him?

Tucked into a new ordinance that would tax smokeless and other non-cigarette tobacco products is a provision that would set a minimum price on cigarettes, cigars and chew tobacco.

Gov. Bruce Rauner says he believes the General Assembly will pass his proposed legislation to have a state takeover of Chicago Public Schools and to enable them to declare bankruptcy. This, as CPS finally completes its delayed $875 million borrowing deal. Paris Schutz has more.

The cost of Illinois’ budget impasse? The income tax would have to go up 100 percent if the state’s debt is to be paid off through revenue alone, according to state Comptroller Leslie Munger. How much longer can the state teeter along without a budget? Paris Schutz has more.

Hear what viewers had to say about Paris Schutz's interview with Mayor Rahm Emanuel when we read feedback from the "Chicago Tonight" website, and our Facebook and Twitter pages.

Earlier this evening, the union announced a possible breakthrough in contract talks after the day's bargaining session wrapped up.

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Mayor Rahm Emanuel joins us to talk about the gridlock in Springfield, the financial crisis at Chicago Public Schools and police accountability. Watch the full discussion now.

City and suburban residents have demanded that the Chicago Department of Aviation take steps to address the problem of O'Hare noise and today Mayor Rahm Emanuel met with members of one community group. Eddie Arruza has more on that meeting.

Hear what viewers had to say about the Republican proposal to take over Chicago Public Schools when we read feedback from the "Chicago Tonight" website, and our Facebook and Twitter pages.

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As Gov. Bruce Rauner and Mayor Rahm Emanuel face crises at the state and city level, crisis management specialists tell us about the importance of leadership and image.

Mayor Rahm Emanuel joins “Chicago Tonight” on Thursday, Jan. 28 to discuss Chicago Public Schools’ financial collapse, the city’s search for a new Chicago police superintendent and the increasingly bitter state budget standoff. What are your questions for the mayor? Share them with us.

Just a day after Gov. Bruce Rauner and Republican leaders in the General Assembly proposed a state takeover of the financially distressed Chicago Public Schools, lawmakers propose altering the TIF legislation to allow a surplus to be spent on the district. 

Hear what viewers had to say about the Republican proposal to take over Chicago Public Schools when we read feedback from the "Chicago Tonight" website, and our Facebook and Twitter pages.

Teachers, parents and the Chicago Public Schools district may not always agree, but on this point they do: leave the management of CPS in Chicago. We hear from education leaders on the GOP plan for a state takeover of the nation's third-largest school district.