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Chicago Fed Letter, No. 324a, July 2014
After Detroit: How Will Illinois and Its Communities Respond? (Special Issue)
Detroit’s bankruptcy filing has highlighted fiscal pressures being experienced by communities across the nation, including Chicago. Problems such as flat or declining property tax revenues, underfunded public pensions and reduced state support are straining local government operations. To investigate how municipalities are adjusting to fiscal stress, the Civic Federation and the Federal Reserve Bank of Chicago held a forum on April 23, 2014, that brought together over 140 participants.
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