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Failure of Emanuel Administration to Push Through Swap Payments a Victory for Working Families

Failure of Emanuel Administration to Push Through Swap Payments a Victory for Working Families

The Emanuel Administration’s plan to voluntarily pay $106 million in predatory interest rate swap termination penalties failed to gain City Council approval Wednesday. Thanks to the bold efforts of the Progressive Caucus and grassroots leaders, $200 million in water revenue bonds, which included funds to pay the voluntary termination penalties, were removed from the borrowing bill before being voted on by the council.

Bad News for Families Seeking Stability

Bad News for Families Seeking Stability

“Governor Rauner has chosen to advance his political agenda by holding children and vulnerable Illinois families hostage. He has given a reprieve to some of the hostages through his rules change announced on Monday but without the passage SB 570 Governor Rauner maintains a free hand to take more hostages, throwing the lives of tens of thousands of Illinois families across the state into uncertainty.
Fight for Progressive Revenue

Fight for Progressive Revenue

Serious cuts are threatening working people, our families, and our communities. Critical needs are being left unmet. Illinois must take action- not just to band-aid the budget gap but to move our state and our people forward. Short term, emergency revenue to patch the budget and prevent devastating cuts is needed, but is not enough. To move Illinois forward and provide the high quality services and educational opportunities that allow communities to thrive requires sustainable, equitable, and smart revenue solutions.