State lawmakers overrode Gov. Rauner’s veto of a bill that allows one former firefighter serving as a Chicago alderman to credit his political salary toward a more lucrative fire pension. The pension boost will also apply to future aldermen with a history of fire department work.
Gov. Bruce Rauner vetoed a bill to allow former firefighters serving as Chicago aldermen to credit their political salary toward a more lucrative firefighter pension. It could come back during veto session.
The South Side alderman had been charged with stealing charity donations to finance his daughter’s college tuition payments and casino getaways in Indiana, among other offences.
Previous pension obligation bonds in Illinois have increased costs to taxpayers and done nothing to solve the fiscal challenges created by the pension system.
Nearly a third of property tax revenue in Chicago is diverted into 143 TIF districts controlled by the mayor, nearly half of which are located in affluent neighborhoods.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.