Bloomberg
This article covers Chicago Mayor Rahm Emanuel's October 17 budget address—his last in office—and notes some of the highlights of the City of Chicago's proposed fiscal year 2019 budget. Civic Federation President Laurence Msall offered his initial thoughts on the budget plan. He said that the Mayor can be credited with stabilizing the City's finances during his tenure, but severe financial challenges still loom on the horizon for Chicago, including a steep increase in statutorily required pension contributions. The Civic Federation will release its full analysis of the City's proposed FY2019 budget in the coming weeks.
Related Coverage:
The Bond Buyer: Chicago's mayor offers an easy-to-swallow budget
Reuters: Chicago mayor skips over pension funding fix in final budget speech
Chicago Sun-Times: On his way out the door, Emanuel shows seldom-seen passion
WLS: Msall: Pension liability about $1B over next three to four years