Preckwinkle Proposes 1 Percent Sales Tax as County Pension Crisis Looms

Cook County, Ill., like the state of Illinois, is facing serious financial challenges. Cook County Board President, Toni Preckwinkle, on Tuesday released the preliminary forecast for the County's Fiscal 2016 budget, announcing a projected operating shortfall of $198.75 million, driven by increasing labor costs, rising legacy debt service, increased costs of the Presidential election cycle, and reductions in court filing revenues.

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• By Deborah Bayliss
• July 1, 2015