A proposed penny-per-ounce tax on sugary beverages is meant primarily as a way to address skyrocketing obesity and diabetes rates. But some of that revenue could go toward funding the city’s big cash crunch.

Mayor Rahm Emanuel on 'Chicago Tonight'

If you have any ideas about how Chicago can come up with more than $750 million to help balance its budget—then the city wants to hear them. Mayor Rahm Emanuel's office today announced three town hall meetings as he prepares to unveil his 2016 budget to the City Council on Sept. 22.

Could Chicagoans soon be paying higher taxes for sugary drinks? We'll tell you about that and other items Chicago's City Council took up today.