Douglas Whitley, president and CEO of the Illinois Chamber of Commerce, also praised the mayor's spending reductions but criticized a proposed 1 percentage point jump?to 4.5%?in the city's portion of the tax on local hotel room rates, meaning an extra $1.78 on the average nightly tab.
?Increasing the hotel tax is a mistake,? Mr. Whitley says. ?One of the things that Chicago needs to overcome is the situation where we have the highest rates in the nation for a lot of taxes.?
One group understandably opposed to a higher hotel tax is the Illinois Hotel and Lodging Assn.
"We don't like it," says President and CEO Mark Gordon, predicting that it would cost the city's economy more in lost convention-related business than the $14 million the Emanuel administration projects it to raise.
Chicago's overall hotel tax would rise to 16.4%, compared with the roughly 12% charged by Chicago's main convention competition, Las Vegas and Orlando, Fla., he says. "This is just one more obstacle we have to deal with," says Mr. Gordon, promising a lobbying effort aimed at killing the proposal.
While avoiding key tax increases, Mr. Emanuel's first budget, unveiled on Wednesday, would impose a $2 to $5 extra tariff on daily downtown parking lots and garages and double water and sewer rates over four years, adding an extra $120 to the average Chicago homeowner's bill the first year.
The fiscal watchdog Civic Federation estimates new revenues at $80 million; one-time gains from debt restructuring and other actions are expected to bring in another $88 million.
Mr. Emanuel's budget does not draw on remaining financial reserves generated from long-term leases of city parking meters and garages and the Chicago Skyway.
?He's avoided the short-term gimmicks that have effectively made Chicago's financial situation worse over time,? says the Civic Federation's Laurence Msall.
The mayor's office said about two-thirds of the budget gap will be closed with $417 million in ?reforms and efficiencies,? including 517 layoffs, eliminating more than 2,000 vacant positions and expanding competitive bidding.
A planned phase-out of the city's $4 ?head tax? on companies with 50 or more employees also is winning Mr. Emanuel business community support.
?He has not avoided the tough management challenges and implementation that the private sector wants to see,? Mr. Whitley says. ?He's not afraid to turn over rocks and challenge past practices.?
? ?(Note: Your first name and last initial will appear with your remarks.)
Copyright ? 2011 Crain Communications, Inc.
(Crain's) ? Mayor Rahm Emanuel's mix of spending cuts and new fees and taxes to close a $635.7-million budget gap mostly satisfies Chicago business leaders. That's because, by ruling out new property or sales taxes, it steers clear of squeezing businesses where it hurts the most.
?Yes, it's a plus for the city,? says Raj Gupta, president of Environmental Systems Design Inc., who terms the budget's avoidance of ?draconian measures? in favor of ?$10-million, $20-million and $30-million? cuts here and there ?balanced and sensible.?
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