|Chicago's South Side earlier|
From the Chicago Sun-Times:
Gov. Bruce Rauner on Friday vetoed a bill that would have saved Chicago $843 million over five years and staved off what Mayor Rahm Emanuel has called an “unnecessary tax increase” — by giving the city 15 more years to ramp up to a 90 percent funding level for police and fire pensions.More...
Top mayoral aides were livid. They likened it to a "declaration of war" on Chicago and Emanuel, akin to President Gerald Ford flatly declaring in 1975 that he would veto any bill calling for "a federal bail-out of New York City" and instead proposing legislation that would make it easier for the city to go into bankruptcy.
After the veto, Emanuel said in a statement: "With a stroke of his pen, Bruce Rauner just toldBut taxpayers are already taking a hike, Rahm. Chicago was the only one of the nation's biggest municipalities to lose population last year. The city's population is the lowest it's been since 1920 and Houston may knock Chicago into fourth place among US cities in a decade or so.
Rauner vetoed the bill because Chicago has been "kicking the can" down the road on pensions for decades and that such fiscal irresponsibility needs to end.
UPDATE May 30:
The General Assembly was able to override Rauner's video. The can gets kicked. Again.