June 09, 2014
Honorable Members of the 98th General Assembly:
conducting a comprehensive and thorough review of this legislation, I hereby
sign Senate Bill 1922, which will stabilize the City of Chicago’s pension funds
for laborers and municipal workers. This legislation includes much-needed
reforms that will help secure Chicago's financial future.
I am committed to the public pension reforms embodied in Senate Bill 1922, I
was dismayed by the ill-advised attempt to have the Illinois General Assembly
impose a property tax increase on the people of Chicago as part of this
publicly stated that this backdoor approach was wrong and I would not approve
of local government units in Illinois should determine their own fiscal and
revenue policies in order to be directly accountable to their constituents.
should be noted that Senate Bill 1922 was subsequently amended at my insistence
to remove the legislatively-mandated property tax increase, which I strongly
encouraged by the public support for my position and the public opposition to automatic
reliance on the property tax to solve the fiscal problems of the City of
Mayor and members of the Chicago City Council work to identify savings to meet
their obligations under Senate Bill 1922, I urge them to rule out a property
tax increase on Chicago homeowners and businesses.
recognize that Chicago’s mission to find real solutions to its financial
challenges will not be easy. It will require hard work, creative solutions and
difficult decisions, just as it did last year when we held the line and
achieved comprehensive pension reform for the State of Illinois.
strongly urge the Mayor and City Council to follow our lead and identify a
comprehensive, balanced solution to Chicago’s pension crisis. Chicago’s
finances can and should be set on the track to long-term stability in a way
that does not hit homeowners the hardest.