Daley Announces Budget: 900-Plus Layoffs, Higher Taxes

Mayor Richard Daley has announced a pared down budget for the city of Chicago that looks to cover a $469 million shortfall.

And the mayor told city leaders that this is "no ordinary year."

Daley says he'll have to lay off more than 900 city workers and eliminate nearly 1,350 vacant jobs.

The budget that Daley delivered Wednesday also increases taxes on parking and sports tickets and shuts down non-safety related city services for three days this year and three more next year. Those shutdowns would save nearly $20 million.

The new budget won't raise property taxes.

Union leaders say they'll fight any planned job cuts in court, while the Chicagoland Chamber of Commerce lauded Daley's proposal.