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October 21, 2014, 5:21 am
970 WMAY News

Quinn Signs Chicago Pension Fund Bill

Governor Pat Quinn has signed legislation aimed at shoring up two of Chicago’s ailing public pension funds… potentially opening the door for a big increase in property taxes or other revenue sources to assist with the bailout.


Quinn’s Republican opponent Bruce Rauner attacked the move, accusing Quinn of breaking a promise to seek property tax relief for Illinoisans.


But Quinn’s signing statement specifically urges Chicago aldermen not to raise property taxes… and Chicago Mayor Rahm Emanuel says he will look for other revenue options.


However, public sector unions are vowing to file suit over the new law, which also reduces benefits for affected workers.

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