A plan to exempt low- and middle-income homeowners from the coming city-wide property tax hike runs into some resistance. Just who would benefit and who might bear more of the tax burden under the plan? Paris Schutz has the story.

Since news leaked last week that Mayor Rahm Emanuel is considering a record high property tax increase of $500 million, the mayor says he’s confident the City Council will stand with him and his plan to overcome the city’s massive financial hurdles. Tonight we’ll ask aldermen to sound off on the property tax increase and other tax proposals.

Mayor Rahm Emanuel is reportedly considering a $500 million property tax hike—one of the largest in the city’s history—to help pay police and fire pensions and construction projects for Chicago Public Schools. The tax increase is expected to be included in the mayor’s 2016 budget. We examine what’s reportedly in Emanuel’s budget and what it means for city residents.

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.

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.

Two leaders in the Illinois House of Representatives join Phil Ponce on Chicago Tonight to discuss the budget stalemate in Springfield and a possible property tax freeze.

Should downstate and suburban school districts pay the hundreds of millions in costs to fund their teacher pensions? A group of Chicago area state lawmakers say yes. They say it’s a better way to level the playing field between Chicago and other school districts. But not everyone is on board.

We share what you had to say about the Better Government Association's report on police-involved shootings in Chicago, the rising price of rent across the city, whether or not the proposed tax on sugary beverages is a bitter pill, and Geoffrey Baer's conversation with Newton Minow.

The parade for new city taxes continued Thursday as a group of aldermen made their case to Mayor Emanuel that powerful corporations and the wealthy should shoulder the burden of tax hikes to help plug a massive budget hole. The aldermen are also targeting the private law businesses of powerful political figures like Ald. Ed Burke (14th Ward) and House Speaker Michael Madigan. 

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.

A Cook County judge ruled Friday that Chicago's plan to change city workers’ pensions was unconstitutional. The city vows to appeal the decision. We look at the ruling, whether any pension reform can be constitutional, what the consequences are to the city's plummeting bond rating, and whether the city will have to raise taxes to cover the pension liability. 

Mayor Emanuel and the city of Chicago are back to square one in efforts to resolve the funding crisis for two of the city's four pension funds, likely exacerbating the city's ongoing fiscal problems. 

According to a Crain's Chicago Business analysis, Chicago police and fire pensions could drive up property taxes by more than 30 percent. Crain’s senior reporter Thomas A. Corfman joins us to explain the analysis.

The Cook County Board will soon vote on whether or not to increase the sales tax, as proposed by Cook County President Toni Preckwinkle. Cook County Commissioner Bridget Gainer and Cook County CFO Ivan Samstein join us tonight to share their thoughts on the proposed tax hike.

Facing a budget crunch, Cook County Board President Toni Preckwinkle is proposing a 1 percent hike to the county sales tax. She'll likely face a tough time finding the nine board member votes she needs to get the tax passed. Preckwinkle joins Chicago Tonight to talk about the budget.

Cook County Board President Toni Preckwinkle sounds off on why she wants to raise the sales tax 1 percent. Will she have support from the board to do it?