The Chicago City Council passed Mayor Rahm Emanuel's $7 million budget Tuesday. The budget includes $33.2 million in new revenues, including a 50-cent increase in the city's cigarette tax, which will raise some $7 million. Chicago's cigarette tax is now $7.17 a pack — the highest in the nation.
The budget also includes some $60 million in revenue from red-light cameras, $70 million from speed cameras located near parks and schools, $16.7 million in increased parking fines, $4 million in increased zoning fees for medium- and large-sized developments, and $2.5 million in storage fees for cars that have been towed.
Read more on the budget breakdown in our report on Emanuel's budget. See what the city's progressives had to say about the budget from our report here. To read more about the passed budget and what the future holds for the city's fiscal challenges, check out the Sun-Times' Fran Spielman's report here.