The Illinois General Assembly overrode Gov. Bruce Rauner's veto of Chicago police and fire pension legislation Monday.
The veto override vote was 39-19 in the Senate and 72-43 in the House.
The legislation -- which the state legislature initially approved last year and sent to the governor in April -- will give the city more time to make its pension payments and produce $1 billion in short-term savings. Under the proposal, the city's 2040 deadline to have its police and fire pension funds 90 percent funded would be extended to 2055. The two pension funds are collectively facing an $8 billion shortfall.
Rauner vetoed the pension measure Friday over concerns that it "continues the irresponsible practice of deferring funding decisions necessary to ensure pension fund solvency well into the future."
"The bill," Rauner added in his veto message, "effectively makes Chicago taxpayers borrow from the pension funds at an additional cost of $18.6 billion."
After Rauner's veto, Chicago Mayor Rahm Emanuel blasted the move Friday, saying the governor "just told every Chicago taxpayer to take a hike."
"His veto is harmful to taxpayers, and like everything he does, it is contradictory to his own supposed policy positions," the mayor added in a statement. "It's no wonder no one can trust him."