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December 12, 2018

A tax policy expert says he fundamentally disagrees with Mayor Rahm Emanuel that Illinois lawmakers must amend the state’s constitution to address the city’s looming pension crisis.

While it may be the only way to eliminate automatic annual 3 percent increases in what pension payouts, Ralph Martire of the Center for Tax and Budget Accountability says the plan is misguided.

“Why we disagree: Why take away the constitutional protection for workers when legislatively, you can create a Tier II, Tier III, Tier IV that has a different cost of living adjustment, COLA, for workers going forward?” he told WBEZ’s Morning Shift.

Source: WBEZ