Over a week ago, Mayor Rahm Emanuel stated that there would be no new taxes, fines or fees in the coming year.  However, there is a shortfall in the budget of nearly $3 million that the Mayor would not address at the time.  Emanuel stated he would not be closing tax loopholes nor would he extend tax collections to other services with the exception of parking meter rates.

Chicago will have to wait until the Mayor releases his new budget (scheduled for October 10) to see how he manages to make a $3 million gap close without generating any new revenues from taxes.

For more on this storey read “No new taxes, fines or fees, mayor vows”