Chicago Public Schools officials had an opportunity to enact serious reforms addressing the district’s dire financial condition, but they instead opted to further burden Chicago taxpayers without offering any change.
Until CPS passes necessary spending and pension reforms, giving any additional money to the system will only reward officials’ mismanagement and reckless behavior.
Illinois House Speaker Mike Madigan’s insistence that Chicago Public Schools receive more than its fair share of state education funding is putting any stopgap budget deal at risk.
Creating new special service areas for the sole benefit of Chicago Public Schools would mean hitting homeowners with an additional $100 million in taxes.
Chicago Public Schools CEO Forrest Claypool has claimed that Chicago students are discriminated against under the state's education funding formula. But the numbers show the opposite: Chicago has received more than its fair share of education funding from the state.
The union’s one-day strike is an illegal, aggressive political power play, and its attempt to coerce its members to participate violates its own constitution. Here’s a breakdown of the timeline, the law and the political statement the union is making.
The Chicago Teachers Union has threatened to strike as early as April 1 over Chicago Public Schools’ announced plan to stop paying a portion of teachers’ required contributions to their pension fund. Under Illinois labor law, however, CTU cannot legally strike before mid- to late-May.
Pension holidays, steep increases in teachers' salaries, and lopsided ratios of teacher contributions to pension payouts have caused the Chicago Teachers’ Pension Fund’s unfunded liabilities to shoot up to $9 billion in 2015.
Unaffordable salaries and pension benefits on top of a structurally unstable retirement system have pushed CPS to the brink of insolvency despite record tax revenues.
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.