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Chicago mayor reaches tentative pension deal

By Associated Press
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Chicago mayor reaches tentative pension deal

CHICAGO — Chicago Mayor Rahm Emanuel’s plan to cut about half of the city’s pension debt would raise property taxes while increasing the amount of money city workers contribute to their retirement.

The proposal increases property taxes by about $250 million over five years — raising taxes about $50 a year for the average homeowner.

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Associated Press Biden Administration Budgets and Deficits Chicago Entitlements Illinois Labor Pensions