The Brief
- Mayor Johnson proposes borrowing up to $240 million to fund the teachers’ contract and pension payment, but a recent report warns it could cause significant financial strain for CPS.
- An independent report from Baker Tilly outlines three funding options, but two—budget cuts and employee furloughs—are difficult, leaving the challenging option of restructuring current debt.
- CTU President Stacy Davis Gates ramps up strike threats, urging CPS to meet union demands to avoid a “protracted confrontation,” as the Board of Education prepares for a crucial vote on Thursday.
CHICAGO – CPS has a math problem.
Mayor Brandon Johnson proposes that the school system borrow up to $240 million to fund the new teachers’ contract and a $175 million retiree pension payment.
However, a recent report warns that this could lead to significant financial strain.…