(b) Approved the Audited Financial Results (both

The report notes, to generate $1.9 billion in revenue, a 60% residential tax increase would be required, cautioned Mayor John Tory. Obvious from the struggles that people are having already, young and old, this would not be a proper solution to this problem. Shortfall, Tory said, represents about 12% of the city 2020 operating budget..

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