The Chicago Teachers Union (CTU) is opposing a bill in Springfield that aims to keep the Chicago Bears in Illinois, citing a past controversial deal involving the sale of parking meters. CTU fears the bill could lead to a similar deal and argues that long-term tax deals for big companies take money away from schools.
The Chicago Teachers Union is pushing back on a bill in Springfield designed to keep the Bears in Illinois . Selling off Chicago's parking meters to a private company is known as one of the worst municipal deals in the city's history.
Then-Mayor Richard M. Daley managed to get 40 aldermen to support it, selling it as a quick cash fix. The CTU fears state lawmakers are about to go down the same path.
"That has burned us in the past. As many Chicagoans remember, we don't want that to happen again. And this bill could do far worse," Potter said. The bill gives major investors with projects worth more than $100 million a 40-year-long property tax break.to get the deal done.
Not only does it help the Bears with a new stadium, but Pritzker argues it will spur growth for all of Illinois.
"When companies come to Illinois, they go negotiate with local governments about their property taxes. And if they can't get a good deal, they go to another state. And so we're just trying to create a process for that to happen," Pritzker said. The bill will create a standard for local governments to follow when negotiating tax breaks with companies.
While the legislation will include some property tax relief for homeowners, CTU argues long-term tax deals for big companies take money away from schools.
"We can't balance school budgets on the backs of property taxpayers in order to help Amazon and Google, you know, stack their profits," Potter said. CTU's effort to derail the bill comes at a time when Chicago Public Schools will likely lay off hundreds of teachers to balance an almost billion-dollar budget deficit. The Better Government Association says while the bill may result in economic growth, lawmakers have yet to provide an estimate of the long-term financial impact.
"We're kind of going to this without all the information. We need to know what the long-term consequences might be. And to point to the parking meter deal as kind of the worst case example of what could go wrong is not completely unfair," BGA President David Greising said. As the state Senate works on the bill, their deadline is fast approaching.
The legislative session ends May 31. Johnson pushing to keep Bears in Chicago, talks revenue wish list
Chicago Teachers Union Bill In Springfield Parking Meters Deal Bears Illinois Growth Property Tax Break Standard Tax Breaks Amazon Google Schools Budget Deficit Better Government Association Economic Growth Long-Term Financial Impact
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