Catherwood LibraryILR School

The group of unions, We Are One Chicago, have pushed Mayor Rahm Emanuel to raise taxes rather than move forward with proposed cuts to benefits and the pension system. We Are One Chicago cited a recent study ?The Great Chicago Pension Caper? to argue that the cuts to pensions would have unintended consequences in many of Chicago?s poorer communities and would disproportionately impact racial minorities. The group suggests closing the state?s corporate tax loopholes, increasing income tax for higher earners, raising property taxes, and creating a tax for some financial transactions. The mayor outright opposes about half of the ideas that the group pitched to raise another $2.4 billion for the pension fund and city budget. Many in the union believe that the city and CPS have not made the promised payments into the pension funds, while union members are forced to contribute regardless of payout.