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Report: Daley won't use tax increase to balance budget

Friday, September 24, 2010
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Mayor Daley will reportedly use a series of short-term fixes to balance the 2011 budget.

The Chicago Sun-Times reports the mayor wants to use a mix of tax-increment financing, parking meter and Chicago Skyway reserves and budget cuts to balance his budget.

That means there would be no tax or fee increases, but it also means the mayor's successor will have to bail out four city employee pension funds, which will be depleted in 2030.

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