CPS’ 2017-18 budget shows cuts for many schools as student populations shrink, despite an increase in per-pupil spending for the district as a whole.

The special session will deal with Senate Bill 1, an education finance bill that contains an annual $215 million pension bailout for Chicago Public Schools.

Cash-strapped and debt-ridden Chicago Public Schools plans to increase per-pupil funding by roughly $200 a student over last year’s budget.

Illinoisans can take a look at their paystubs and notice the state decided to hike their income tax bill by 32 percent.

A bill that has passed the Illinois House and Senate would provide CPS with a $215 million pension bailout and other funding carve-outs.

Even with 32 percent tax hike, Illinois State Comptroller expects only $5 billion of the state’s unpaid bills to be paid down.

The Illinois Department of Revenue issued details on how to comply with the state’s increase income tax, signaling the reality of higher taxes for Illinoisans.

That total comes from $2.4 million lost due to the absence of Powerball ticket sales and $1.4 million lost due to the absence of Mega Millions ticket sales.

Chicago Public Schools failed to pay in full the $733 million pension payment that was due June 30, instead making a partial payment of $464 million, even after taking out a $387 million loan from JPMorgan.