CHICAGO
10/22/2013 11:20 am ET Updated Oct 22, 2013

Chicago Cable Tax Hike: Rahm Emanuel Reportedly Eyes More Fees, Fines To Balance Budget

With one more day to go before Rahm Emanuel unveils his 2014 budget proposal, more reports are emerging about how the Chicago mayor will tackle the city's $338.7 million budget shortfall.

According to the Chicago Sun-Times' Fran Spielman, Emanuel plans to increase the city's amusement tax on cable television services from 4 percent to 6 percent, a tax charged to cable companies that will almost certainly be passed along to the customer.

The city says it expects the tax hike to only increase cable customers' monthly bills by a few dollars, but the exact impact is still unknown.

Meanwhile, Emanuel is also reportedly eyeing a 75-cent city cigarette tax hike increase which -- at $7.42-per-pack in total taxes -- would make Chicago home to the most-taxed cigarettes in the nation.

And the Chicago Tribune reported Tuesday the upped taxes, fees or fines won't stop there: the mayor is also expected to propose increasing a number of parking fines and vehicle impoundment fees. Among the increases are a $50 hike to the $200 fine for parking a car in a disabled zone and a $40 hike to the $60 fine for parking on streets during rush hour where not allowed.

The mayor previously touted he'd be holding the line on property, sales and gasoline taxes in his new budget proposal, which will be unveiled Wednesday.

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