Excerpts from CBSChicago.com: Mayor Rahm Emanuel addressed city aldermen on Tuesday, revealing a plan that would require a $543 million increase in property taxes to stabilize the city’s police and firefighter pension funds. Without this increase, the mayor warned, the city would be forced to cut thousands of jobs in both departments. The proposed budget includes gradually raising the property tax over four years, with the majority coming in the current year. In addition to the property tax hike, the mayor also introduced a new garbage collection fee and several other new taxes and fees. These measures are aimed at closing the city’s long-standing budget deficit and addressing the growing pension crisis. A separate $45 million increase in property taxes was also proposed to fund school construction projects. If approved by at least 26 aldermen, the plan would mark the largest property tax increase in modern Chicago history, according to analysts. Emanuel described the tax hike as a “last resort†to avoid deep cuts to essential city services. He emphasized that relying solely on spending cuts to meet pension obligations would mean cutting 2,500 police officers — about 20% of the force — and 2,000 firefighters — roughly 40% of the department. The city would also have to close 48 fire stations, reduce trash collection to once a month, stop recycling, halt pothole repairs, and eliminate rodent control and graffiti removal programs. “If we were to fund our pensions through cuts alone, our city services would become unreliable. Our city would become unlivable,†he said. “That’s totally unacceptable. We must solve our pension challenge. There are only two options: make damaging cuts that undermine progress, or raise property taxes to fulfill our duty to those who serve us every day. The bill is due today. And that’s the choice before us.†The property tax increases would be phased in over four years, starting with a $318 million boost in the 2015 levy, followed by smaller increases each year. An additional $45 million would go toward school construction in the same year. For a homeowner with a $250,000 property, the total tax increase would amount to around $588 per year. In addition to the property tax hikes, the mayor proposed a $9.50 monthly garbage fee, a 50-cent surcharge on taxi and ride-share rides, a 15% increase in cab fares, and new airport pickup fees for ride-sharing services. The plan also includes a tax on e-cigarettes and higher building permit fees. Emanuel also highlighted $170 million in cost-saving measures and reforms that could help reduce the need for new taxes. Ralph Martire, director of the Center for Tax and Budget Accountability, acknowledged that many residents would be upset by the new taxes. “People are going to react negatively to these increases, especially when they seem like small, repeated charges,†he said. Martire also pointed out that past administrations, including Mayor Richard M. Daley’s, often relied on one-time revenue and borrowing to cover ongoing costs, which contributed to the current pension debt. “These choices should have been made years ago,†he said. “Emanuel will have to make tough decisions, but it’s clear that the city and state need to take drastic action to fix the budget and pension systems.†However, major legislative hurdles remain, as top Democratic lawmakers and Republican Governor Bruce Rauner have struggled to reach an agreement on key issues. China Chemical Raw Materials,Propionyl Chloride Cas 79-03-8 supplier & manufacturer, offer low price, high quality Zinc Bromide Cas 7699-45-8,Propionyl Chloride 79-03-8, etc. Chemical Raw Materials,Propionyl Chloride Cas 79-03-8,Zinc Bromide Cas 7699-45-8,Propionyl Chloride 79-03-8 Jiangsu Kaihuida New Material Technology Co., Ltd , https://www.khdchemical.com