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CHICAGO MAYOR-PENSION PREDICAMENT
Pension mess poses latest challenge for Chicago mayor less than a year before re-election bid

Reported by: Associated Press
Reported: Monday, April 7, 2014 3:43 PM EDT
CHICAGO


Rahm Emanuel has been a force in politics — the mastermind behind a Democratic takeover of Congress, dealmaker in two White Houses and now the hard-charging mayor intent on fixing what ails the nation's third-largest city.

But less than a year before asking voters to give him a second term, Emanuel is confronting a pension crisis that could undermine Chicago's reputation as a world-class city. Chicago has the worst-funded public pensions of any major U.S. city.

Emanuel last week announced his first concrete proposal to cut the nearly $20 billion shortfall in half by reducing worker benefits and raising property taxes.

But the plan has been met with fierce resistance from unions and taxpayer groups — and little enthusiasm from fellow Democrats he needs to approve it.










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