Emanuel considers new taxes to pay for teachers contract - Chicago News and Weather | FOX 32 News

Now that the teachers strike is over, you might be wondering how the city will pay for the new agreement.

The contract adds an extra $75 million to the city budget. The mayor is looking at ways to try to close a $369 million budget deficit.

Mayor Emanuel is exploring the possibility of raising the city's amusement tax and the "sin" tax on cigarettes.

The City of Chicago charges a nine percent tax on tickets and it charges 68 cents in taxes per pack of cigarettes.

Emanuel aides say he will not raise property or sales taxes.

Teachers say they fear he will close dozens of schools to help pay for the new contract.

Emanuel will make his budget address in three weeks.