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Chicago City Council Passes Budget With Big Tax Hikes

October 28, 2015
The Bond Buyer

Chicago's city council Wednesday easily approved a record property tax hike as part of Mayor Rahm Emanuel's $7.8 billion 2016 budget. "The mayor has demonstrated leadership and political will by raising the property tax. The mayor is taking action to solve the city's problems but the city is still beholden to the state and so his hands are tied," said Brian Battle, director of trading at Performance Trust Capital Partners. "Now we are waiting to see the same leadership in Springfield where there is a real vacuum."

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