Monday, January 10, 2011
City of Big Shoulders, Cash Cows
Photo and Words By Nandika Doobay
Aldermen Joe Moreno and Walter Burnett Jr. held a press conference Saturday Jan. 8, 2011 at the 13th District Police Station to discuss their views on the proposed income tax increase which the Illinois house is set to vote on this week.
Both Moreno and Burnett deem the tax-hike unacceptable as it does not include revenue increases to any of the state’s municipalities, capping Chicago’s revenue at the current one tenth of one percent.
With the proposal calling for a four year increase of personal income tax from 3 percent to 5.25 percent and a recent mandate that the City of Chicago must fund its Police and Fireman pension commitments, the Aldermen worry that the city will be getting a raw deal.
“At the same time the State is telling us to fund our pensions, they’re increasing their revenue and not giving us our rightful equivalent on the increase,” said Alderman Moreno. “It’s unfair and unworkable.”
Moreno explained that he has reached out to state senators and other local Aldermen who agree that the city of Chicago should get it’s fair share of the $7.5 Billion expected to be raised during the hike.
“Chicago is this state’s cash cow,” said Alderman Burnett of the 27th Ward. “You don’t kill the goose that laid the golden egg - you need to feed that goose.”
By Nandika Doobay