Nightmare scenario for Emanuel in Springfield

Crain's Chicago Business reports:

Even as Mayor Rahm Emanuel tries to recover from a horrid couple of weeks, it looks like he's about face an even worse problem: lack of action and even rejection of his pension reform plans in Springfield.

Lawmakers now are just about two weeks away from their scheduled adjournment at the end of May, and the overwhelming sense I've picked up from key insiders on both sides of the aisle is that nothing is going to happen now on Mr. Emanuel's hopes for legislation to revamp the city's cash-short police and firefighters retirement systems.

Without help, the city faces a $600 million fiscal cliff in the year beginning Jan. 1 — a legally required boost in contributions to city pension funds kicks in on that date. But if the issue is held off until the Legislature's fall veto session, Mr. Emanuel will have to begin crafting a proposed 2015 budget that has a huge hole, includes major borrowing, makes spending cuts, or all three.

"There has been no meaningful discussion" of a police and fire bill, which likely would have to extend statewide because many suburban and downstate communities are having similar problems, House GOP Leader Jim Durkin told me. "I'm not going to hold my breath. I have not felt there is any momentum."

City Hall sources concede the point: Odds now are very long that anything will happen this spring.

#chicagobankrupt