Mayor Mum On Budget He'll Unveil
CHICAGO (CBS) – Mayor Rahm Emanuel will unveil his proposed city budget next week to aldermen, and he's still hundreds of millions of dollars short in cuts needed to balance the spending plan.
Or is he?
Emanuel told CBS 2 Chief Correspondent Jay Levine that he has already identified ways to seal the gap -– without new taxes or raiding reserve funds.
In the meantime, Levine sorted through five months' worth of news releases from Emanuel's administration to track cost savings that already have been claimed. Tallying up the figures, Emanuel may have reduced the $637 million deficit to about $400 million.
But that's before Emanuel pays for the new bike lanes and river marinas, and the head tax he hopes to reduce.
How will the mayor do it?
Stay tuned.
