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Chicago approves Emanuel's city budget, property tax increase

from Reuters

Chicago Mayor Rahm Emanuel's $7.8 billion fiscal 2016 budget and a historic property tax increase to pay for public safety worker pensions easily cleared the city council. But the spending plan for the fiscal year that begins on Jan. 1 still faces uncertainties in the Illinois Legislature and supreme court that could impair the mayor's plan to address the city's $20 billion unfunded pension liability. more


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