Mayor Rahm Emanuel announced a plan Wednesday to phase-out the city’s employer head tax, which has long been opposed by local businesses and one aldermen called a “job killer.”
A City Council ordinance introduced by Emanuel would halve the monthly $4-per-employee tax levied on businesses with more than 50 workers and eliminate it by 2014. The city stands to lose $23 million from the move next year. Emanuel’s office said the lost revenue would be offset by cost-cutting measures in the mayor’s budget, which will be released next week.
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