Only 51 percent of black adults reported having some form of work in Illinois.View Report
Senate Bill 1 provides a $215 million annual pension bailout and other carve-outs worth hundreds of millions of dollars to CPS.
Illinois state Rep. Barbara Flynn Currie has introduced a pension bill that is unfair to new and current workers, is potentially unconstitutional, bails out Chicago Public Schools’ pensions, and perpetuates Illinois’ broken pension system.
State lawmakers’ latest bill not only forces a failed “evidence-based” education funding program on Illinois, but also bails out Chicago Public Schools.
Chicago Public Schools is faced with the possibility of closing school early while Chicago sits on massive property wealth.
At a time when businesses are fleeing the state, a group of Chicago aldermen are attempting to revive the employer’s expense tax to bail out Chicago Public Schools.
While states surrounding Illinois are enacting labor reforms that benefit residents, Illinois remains a bastion of labor power. Now the Chicago Teachers Union wants even more power – including the broadened right to go on strike and strand parents and students.
Gov. Bruce Rauner has suggested funding CPS with tax increment financing, or TIF, funds; this would temporarily bail out the district, but more needs to be done to address serious concerns about Chicago’s TIF program.
Mayor Rahm Emanuel is spending money promised for rebates on police body cameras, a legal defense fund for undocumented immigrants and other programs.
Gov. Bruce Rauner vetoed the $215 million bailout of Chicago Public Schools’ ailing teachers’ pension fund.
Standard & Poor’s sent Chicago Public Schools’ credit rating deeper into junk territory in the wake of the new $9.5 billion teachers’ contract. The ratings firm said the new contract will make the district’s financial crisis worse.