SPRINGFIELD, Ill. (AP) - Illinois’ Senate Republican leader says she’s advised her caucus to oppose a plan from Chicago Mayor Rahm Emanuel to bail out two city pension systems.
Christine Radogno (rah-DOH’-nyoh) of Lemont told a Senate committee Wednesday that the state is in “continual crisis mode” with spending and revenue. She says she wants to see a long-term plan from the city dealing with its other troubled pension funds.
Emanuel announced Monday what he said was an agreement with labor unions to raise property taxes by $750 million over five years to help cut in half a nearly $20 billion shortfall. The deficit in municipal and laborers funds would be cut over 40 years.
An Illinois House committee earlier Wednesday approved the plan sponsored by Speaker Michael Madigan by a 6-4 vote.