Emanuel considers raising taxes on high-income businesses, citizens to fund CPS

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Emanuel defends pension reform

CHICAGO — Mayor Rahm Emanuel says he has a way to get Chicago Public Schools the nearly 600 million dollars they need – raise taxes for downtown businesses.

According to the Sun-Times, the mayor is considering raising taxes for both high-income businesses and citizens, bringing in an estimated 400 to 600 million more dollars.

The plan hasn’t been formally introduced but it’s one of the ideas reportedly being kicked around in hopes of keeping CPS schools open through the end of the year.