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.
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.
Many educators are wary of a strike’s hardships and long-term consequences for students, their families and the educators themselves. These teachers can remove themselves from CTU authority and the conflict between union priorities and students’ needs.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.