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In surprise, Emanuel says he won’t seek another term as mayor of Chicago

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Rahm Emanuel announced Tuesday that he won’t seek a third term as mayor of Chicago, a surprise decision for the 12 people vying for his job

“As much as I love this job and will always love this city and its residents, I’ve decided not to seek re-election,” Emanuel said while holding hands with his wife, Amy Rule, at a news conference in Chicago. “This has been the job of a lifetime, but it is not a job for a lifetime.”

Emanuel, 58, said he plans to spend more time with his wife and their three children.

“When we got married, I told her I’d never run for office, and I’m about six elections behind the eight ball,” he said. “Six elections later, she’s the only reason I’ve ever made it this far.”

Emotional at times, Emanuel thanked his wife, children, parents and his grandfather, who emigrated to the United States from Eastern Europe to flee persecution at the age of 13 a century ago. He also thanked voters for supporting a Jewish kid with the middle name “Israel.”

“The changes we have made together to our school system – universal full-day pre-K, universal full-day kindergarten, a longer school day and year – will add up to nearly four more years of class time for Chicago students,” Emanuel said. “And in the end of the day, what matters most in public life, is four more years for our children, not four more years for me.”

Emanuel left the news conference without taking questions, including one about who he’d support in the mayoral contest.

Rockford Republican Dave Syverson said Chicago is an economic engine for the entire state, and Chicago’s mayor holds the key to that engine.

“If they get a Bernie Sanders-type who says ‘We need more social programs, we want more giveaways.’ Then there could be an effect,” Syverson said.

Syverson said all of Illinois should also care about Chicago mayor because the city asks the state for everything from new laws to more money.

“What Chicago does affects all of us,” Syverson said. “When they take a disproportionate amount of money from us, that’s money that’s not going to other communities throughout the state that actually deserve it.”

Emanuel took office in 2011 after beating former Chicago School Board leader Gery Chico at the polls. His predecessor, Richard M. Daley, had announced in 2010 that he wouldn’t seek a seventh term as Chicago’s mayor.

Article by Brett Rowland and Ben Yount, Illinois News Network. For more INN News visit ILnews.org 

Illinois News Network, publisher of ILNews.org, is a nonpartisan, nonprofit media company dedicated to the principles of transparency, accountability, and fiscal responsibility in the state of Illinois. INN is Illinois’ pioneering non-profit news brand, offering content from the statehouse and beyond to Illinoisans through their local media of choice and from their digital hub at ILNews.org. Springfield Daily was granted republishing permission by INN.

Business

Court upholds Illinois nuclear power subsidy law

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A federal appellate court ruling upheld Illinois’ law directing hundreds of millions of dollars in subsidies to nuclear plants and other green energy incentives.

The ruling from the Seventh Circuit Court of Appeals says that Illinois’ Future Energy Jobs Act, a 2016 law providing Zero Emissions Credits to Exelon, the owner of several nuclear plants in the state, doesn’t unfairly manipulate the multi-state energy market that establishes rates.

The challenge was brought by the Electric Power Supply Association, a trade group for power plant owners that includes Dynegy, which has since been acquired by Vistra Energy. Vistra owns coal-fired plants in Illinois. Vistra wasn’t immediately available to respond to the ruling or say whether it will appeal the decision.

In Vistra’s lawsuit, the company claimed the subsidies allowed Exelon to submit unfairly low rates in the wholesale auction.

The panel ruled that “the Commerce Clause does not cut the states off from legislating on all subjects relating to the health, life, and safety of their citizens…”

Exelon released a statement Friday saying the company was “pleased to see that the Seventh Circuit Court affirmed dismissal of the ZEC complaint, thus supporting the continued operation of Illinois’ ZEC program and the clean, resilient and affordable electricity nuclear power provides.”

State Rep. Sue Rezin, R-Morris, who has two nuclear plants in her district, said it was good for clean and renewable energy.

“Many states are trying to figure out what to do to keep the nuclear plants online,” she said. “This opinion that just came out sounds like a step in the right direction.”

Both sides had said Illinois jobs were on the line as they looked to influence lawmakers.

Exelon warned in 2016 that it would likely have to close two Illinois plants, one near Clinton and another near the Quad Cities, and cut 1,500 jobs if the subsidies weren’t signed into law.

Dynegy said its Illinois-based plants face an uncertain future if the courts upheld the FEJA. This would mean 1,000 jobs in southern Illinois, an area facing a dearth of higher-paying jobs.

The Future Energy Jobs Act will charge utility customers an average of $2 per month over the next decade, sending $236 million to Exelon annually. In turn for the credits, ComEd, Exelon’s energy retailer, would invest in green jobs training and provide discounts to needy ratepayers.

Article by Cole Lauterbach with Illinois News Network. For more INN News visit ILnews.org

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News

S&P: Growing pension costs to force cities to raise taxes, cut services

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S&P Global Ratings is warning that growing public retirement debt is likely going to continue to eat up public funds that would otherwise go to providing services to taxpayers.

In an annual report on America’s 15 largest cities and their public debt, S&P said major cities like Chicago are going to have to cut services as they shift more money to pay down legacy retirement costs. Analysts also expect cities to continue to raise taxes, with all of that new tax revenue going to pay for pensions.

“As we expect these costs to continue to rise in the near term, we likewise expect to see growing pressure on other priority services such as public safety and public works, absent revenue growth from tax hikes or the identification of new revenue streams,” the report said.

Growing pension costs could even make it more difficult for cities to come up with money for infrastructure projects, such as road improvements.

“Any of the major cities that currently face a backlog of deferred capital will only find it more difficult to keep pace with demand for new infrastructure investment, as mounting legacy costs command an ever greater share of budgets,” the report said.

The report describes Chicago as an “outlier” in terms of its 26 percent pension funding levels. The city has raised property taxes multiple times in recent years, most of that money going to pensions. The city is considering borrowing $10 billion to essentially refinance its pension debt using portions of future income as leverage to get better rates.

S&P Analyst Scott Nees expects it to become more pronounced as required contributions increase.

“Those cities that are on the low end of the distribution in terms of pension funding levels will continue to see these costs increase in the future,” he said.

Similar budgetary pressure is apparent in cities across Illinois. The city of Peoria announced more than two dozen layoffs last month. Its annual budget report noted that pension payments are crowding out services. Many more municipalities are raising taxes to pay into the funds.

“I think it ends up being a little bit of a mixture raising new revenue streams and then maybe curbing cost growth that otherwise wouldn’t have emerged if it weren’t for the fact that they didn’t have to cover rising pension costs,” Nees said, adding that Chicago still benefits from its solidly diverse economy.

Article by Cole Lauterbach with Illinois News Network. For more INN News visit ILnews.org

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Business

Rauner declares harvest emergency as stopgap until higher haul limits take effect next year

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Illinois Gov. Bruce Rauner signed an emergency declaration Friday to allow increased weight limits for Illinois agriculture haulers on Illinois roads.

Last month Rauner signed a law allowing permanently increased haul limits for permitted vehicles during harvest season, but that doesn’t take effect until Jan. 1. He said the declaration he signed Friday in Auburn at The Ladage Farm doesn’t have as much to do with the weather as it does with making Illinois farmers more competitive.

“The right answer for the permanent competitiveness of Illinois farmers is to make sure that our truckers and our commodities haulers and our farmers can get their product to market, fast, efficient, cost effectively,” Rauner said. “And 10 percent more weight now here in the fall can be on our commodities truckers going in.”

“That means every ten loads we’d have another load to haul so that’s gonna save us time and wear and tear and makes our harvest much quicker,” Ladage farm operator Brent Ladage said. “It adds up a lot, too.”

Illinois Farm Bureau’s Mark Reichert said the order and new law means trucks won’t have to vary their weights going from Illinois to neighboring states.

“So we’ve kind of mirrored now all of the states around, so there’s kind of an equilibrium now,” Reichert said.

Asked if possible increased wear and tear on local roads is an unfunded mandate on local taxpayers who pay to maintain the roads, Rauner he didn’t see that way.

“No, this is regulatory relief,” Rauner said. “This is cutting mandates, cutting regulations, which I’m all about. Eliminate as many regulations. This is freeing it up. There’s less regulatory restrictions now on our farmers.”

Rauner said fewer trucks on the road also diminishes wear and tear to roads that local taxpayers would have to maintain.

State Rep. Dave Severin, R-Benton, said increased haul limits also is about safety.

“Less vehicles on the road which is very important with school season now going and schools are back in session,” Severin said.

Starting Monday, haulers can request permits for increased limits from the Illinois Department of Transportation.

Article by Greg Bishop, Illinois News Network. For more INN News visit ILnews.org 

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