Gov. Bruce Rauner vetoed the $215 million bailout of Chicago Public Schools’ ailing teachers’ pension fund.

Chicago Mayor Rahm Emanuel’s pension proposal, which is headed to Gov. Quinn’s desk, does very little to reform how Chicago’s pension systems work. Under his plan, workers and taxpayers would experience more of the same tired game, except they would be expected to contribute more to keep it afloat. But if Emanuel is going to rely...

Chicago Mayor Rahm Emanuel released today his 2014 plan to close the city’s looming $338.7 million budget gap. His proposal is heavy on tax hikes and short on solutions. The mayor vowed not to close the budget gap with higher property taxes this year. Instead, the plan is to nickel and dime Chicagoans with tax...

Last week, Moody’s Investors Service downgraded the credit rating of Chicago Public Schools. Today, it’s Fitch Ratings that’s downgrading CPS. The school district’s credit rating now sits at A with a negative outlook, the same rating given to Illinois, which has the lowest rating of all 50 states. According to Fitch, the downgrade was caused by the district’s deteriorating...