Mayor Rahm Emanuel’s plan to establish and hike up over the next four years a new water-sewer tax to shore up revenue for the city’s largest pension fund advanced out of Finance Committee yesterday in a divided 26-6 roll call vote.

No Votes: Ald. Leslie Hairston (5), Ald. Patrick Daley Thompson (11), Ald. Willie Cochran (20), Ald. Rick Munoz (22), Ald. Scott Waguespack (32), and Ald. John Arena (45).

The new tax’s passage was despite vocal concerns from aldermen, and confirmation from the city’s finance team, that the new tax won’t be enough to fully cover pension payments required to the get the Municipal pension fund on a path to financial stability. With liabilities hovering around $18.6 billion, the MEABF pension fund is currently only 20% funded.

Attendance (includes non-members): Chairman Ed Burke (14), Joe Moreno (1), Pat Dowell (3), Sophia King (4), Leslie Hairston (5), Rod Sawyer (6), Michelle Harris (8), Anthony Beale (9), Patrick Daley Thompson (11), George Cardenas (12), Marty Quinn (13), Raymond Lopez (15), Toni Foulkes (16), David Moore (17), Derrick Curtis (18), Matt O’Shea (19), Willie Cochran (20), Howard Brookins, Jr. (21), Rick Munoz (22), Mike Zalewski (23), Michael Scott, Jr. (24), Danny Solis (25), Roberto Maldonado (26), Walter Burnett (27), Jason Ervin (28), Ariel Reboyras (30), Scott Waguespack (32), Deb Mell (33), Carrie Austin (34), Gilbert Villegas (36), Emma Mitts (37), Nick Sposato (38), Pat O’Connor (40), Brendan Reilly (42), Michele Smith (43), Tom Tunney (44), John Arena (45), James Cappleman (46), Harry Osterman (48), Joe Moore (49), Deb Silverstein (50)

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