Chicago is grappling with a significant debt crisis, with almost half of the city's general budget allocated to debt and pension payments, which remain massively underfunded. Despite high taxes, the city's financial woes persist. Illinois House Speaker Emanuel "Chris" Welch has ruled out any public-funded sports stadiums, stating there is no appetite for such projects even after the election. The Chicago Bears' bid for billions in public assistance to build a new lakefront stadium was a major topic at the Chicagoland Chamber of Commerce’s annual meeting. However, Speaker Welch's firm stance against taxpayer-funded stadium subsidies has left the Bears and the White Sox exploring alternative plans. Kevin Warren continues to push for the Bears' stadium, while Mayor Johnson and Governor Pritzker remain quiet on the subject.
The Bears are publicly pitching what City Hall has privately pitched: A new stadium as a pro-business boon. That played out at the Chicago Chamber of Commerce today, @JakeSheridan_ reports https://t.co/NeuxuTp7aN
Editorial: Speaker Welch slams the door shut on taxpayer stadium subsidies. Time for Plan B, Bears and Sox. https://t.co/9c6nAEAeSh
The Chicago Bears’ bid for billions of dollars in public assistance to build a new lakefront stadium was the elephant on the agenda Tuesday at the Chicagoland Chamber of Commerce’s annual meeting. https://t.co/oaRvPiAvfn
Businesses should be interested in paying down state and city pension debt - so down the line govt could actually afford to subsidize a stadium. Now it’s financial foolishness: Chicago Bears seek business support for stadium | Crain's Chicago Business https://t.co/8sYy9YKy8r
Kevin Warren presses ahead on Bears stadium pitch as Johnson, Pritzker stay quiet on the subject https://t.co/VEcJOatMDE
The Bears and Sox didn’t get state stadium assistance during Illinois’ legislative session, but how about in the future? No, @SpeakerWelchIL said, there’s no appetite for it. What about post election? “Even after the election,” he told me. More: https://t.co/rHyj4Tq6zS
New: In an interview with @AmandaVinicky on Chicago Tonight, Illinois House Speaker Emanuel "Chris" Welch threw cold water on any public-funded sports stadiums. "The last thing (people) want us to be talking about is stadiums for sports teams.” Watch: https://t.co/rRqkIijK28 https://t.co/fmuhvzR2Qw
Three-a-half-years into what he promises will be at most a 10-year job, and fresh off another whirlwind end-of-session, Illinois House Speaker @ChrisWelch_JD is back on @wttw #ChicagoTonight. Catch the interview at 5:30 or 10 tonight on TV, or stream it: https://t.co/yX3lQz20tG https://t.co/tdrViYomNk
My latest from @CityJournal magazine on Chicago's debt crisis (a version of which appeared earlier in @WSJ). The city is in bad shape, with almost half of the general budget going to debt and pension payments, which are still massively underfunded. https://t.co/0TVLsoLAim
"Chicago’s accumulating debt might be bearable if the city had low taxes and therefore room to raise them and pay down some of the liabilities," writes @judgeglock. "But taxes in the Windy City already rank among the nation’s harshest." https://t.co/dFvWJRKBF3