Excerpts from CBSChicago.com: Mayor Rahm Emanuel addressed the city council on Tuesday, outlining a plan that would require a $543 million increase in property taxes to stabilize the city's police and firefighter pension funds. Without this move, the mayor warned, thousands of first responders could be laid off, leading to severe cuts in essential services. The proposed budget includes gradually increasing the property tax over four years, with the largest portion coming in the current year. In addition to the tax hike, the mayor introduced new fees, including a garbage collection charge, and other revenue-generating measures aimed at closing the city’s long-standing budget deficit and addressing the growing pension crisis. He also proposed an extra $45 million in property taxes specifically for school construction projects. If approved by at least 26 aldermen, this plan would mark the largest property tax increase in modern Chicago history, according to financial analysts. Emanuel described the tax increase as a “last resort†to avoid deep cuts to public safety and city services. He explained that relying solely on spending cuts to meet pension obligations would result in cutting 2,500 police officers—20% of the force—and 2,000 firefighters—nearly 40% of the department. Additional consequences would include closing 48 fire stations, reducing trash collection to once a month, eliminating recycling, stopping pothole repairs, and ending rodent control and graffiti removal programs. “If we fund our pensions through cuts alone, our city services will become unreliable. Our city will become unlivable. And that is totally unacceptable,†he said. “We have two choices: either make these damaging cuts that undermine progress or raise property taxes to meet our obligation to the men and women who serve us every day. The bill is due today. That’s the choice before us.†The plan calls for a $318 million increase in the 2015 property tax levy, payable in 2016, followed by smaller increases in subsequent years. An additional $45 million would be allocated for school construction. Overall, the total property tax increase would add about $588 per year for the owner of a $250,000 home. 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% fare increase for cabs, and new airport pickup/dropoff fees for ride-sharing companies. He also suggested new taxes on e-cigarettes and increased building permit fees to generate additional revenue. Emanuel emphasized that $170 million in cost savings and reforms would be implemented before raising taxes. However, critics like Ralph Martire of the Center for Tax and Budget Accountability argue that many of these measures should have been taken years ago. “People are going to react negatively to a series of tax increases that feel like small, incremental burdens,†Martire said. He added that past mayors, including Richard M. Daley, often relied on one-time revenues and borrowing rather than making tough decisions on pension funding. Despite the urgency, political gridlock between state lawmakers and Governor Bruce Rauner has stalled broader solutions, leaving the city to navigate its financial challenges on its own. EPE Foam Net Extrusion Making Line Epe Foam Net Extrusion Making Line,Epe Foam Net Production Line,Epe Foam Net Extrusion Line,Foam Mesh Sleeve Making Line Laizhou Jinlida Machinery Co.,Ltd , https://www.jldepe.com