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Emanuel skeptical of teachers' union pension plan

from WBEZ-FM

Chicago Mayor Rahm Emanuel’s administration is swatting down key aspects of the Chicago Teachers Union’s proposal to shore up the ailing pension fund for city teachers. Emanuel suggested a proposed tax on financial transactions would hurt the big Chicago-based financial exchanges like the Chicago Board Options exchange and CME Group, which owns the Chicago Board of Trade and other exchanges. The Chicago Teachers union is pushing what it calls a “LaSalle Street tax” on futures and derivatives trades. CTU estimates it could reap $10 billion to $12 billion a year. more


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