With billions of new revenue needed over the next few years to fund pensions, is a city income tax on the table? We get reaction from aldermen and budget experts.
Former U.S. House Speaker Dennis Hastert, who’s accused of bank fraud and lying to the FBI in connection with a sexual abuse scandal, pleads not guilty in federal court.
There's a lobbying and advertising war going on in Illinois. No, it's not related to the state budget. It pits the state's largest producer of energy, Exelon, which is asking for a rate hike to help its struggling nuclear power plants, against wind and solar energy groups that say Exelon is merely a billion dollar corporation seeking a bailout.
Speaker Michael Madigan and the House return to work today as the overtime session begins. Is it political theater or is this a sign of a compromise with Gov. Bruce Rauner?
The Illinois General Assembly passes Mayor Rahm Emanuel’s long-anticipated changes to police and fire pensions. But will it stave off a massive property tax hike? And will Gov. Bruce Rauner sign on? Paris Schutz has the latest.
A much anticipated plan to shore up Chicago’s beleaguered police and fire pension funds has finally surfaced in Springfield. The measure would double the city's payment into the fund next year and triple it in the next five years.
Pastor Corey Brooks sits down with Paris Schutz to discuss his controversial endorsement of Republican Bruce Rauner for governor, his mission to curb violence and bring economic development to his community, and why he is inviting presidential candidates from both sides of the aisle to come to the South Side for a series of town hall meetings.
Brown Line Project Increases In Size and Cost
In a time of tight budgets, why is the CTA pushing a $570 million 'flyover' project? Paris Schutz reports.
Just why did the city's bond rating get downgraded to junk status by one ratings agency? A Moody's official speaks out. Paris Schutz has the details.
Moody’s Investors Service has issued a “credit negative” warning against the state in light of last Friday’s State Supreme Court ruling rejecting changes to public pensions. It’s a somewhat tepid response to the ruling, relative to the double ratings drop Moody’s applied to city of Chicago’s credit, resulting in junk bond status. In today’s report, Moody’s says the reforms could have reduced the unfunded pension liability by about $21 billion.