By the city’s own estimate, police and fire pension costs will rise by $297.3 million, or 36 percent, in 2020. The Municipal and Laborers plan costs will grow by $330.4 million, or 50 percent, in 2022.The struggles of Blue America...
On Thursday, Emanuel didn’t want to talk about how he will fill those daunting funding gaps. He would only say, “At the right time and place, we’ll deal with that.”
He was more interested in dodging the blame for the mountain of tax increases he has already imposed. And pointing the finger of blame at Daley — without saying his name.
“In 2007, the pension [shortfall] was, by the pension commission’s [estimate] like $400 million. By the time I came, fixing it was about $1.2 billion,” the mayor said.
Emanuel noted that he negotiated cost-saving concessions with organized labor. But the Illinois Supreme Court overturned that plan. The only alternative was to raise taxes.
Thursday, April 26, 2018
Emanuel blames Daley for avalanche of tax increases — without saying his name
The Chicago Sun-Times reports: