Post by Logan on Jan 20, 2016 3:17:26 GMT -6
Republican legislative leaders on Wednesday are expected to unveil proposals to allow Chicago Public Schools to declare bankruptcy and to put the financially struggling school district under state supervision, sources said Tuesday.
It's the latest move as Gov. Bruce Rauner and Mayor Rahm Emanuel continue to play the blame game over CPS' $480 million budget shortfall that threatens layoffs and has led to heavy borrowing to keep the state's largest school district afloat.
House Republican leader Jim Durkin and Senate Republican leader Christine Radogno are scheduled to unveil the proposals at a Wednesday morning news conference where an adviser said they'll "introduce legislation pertaining to the fiscal crisis in the city of Chicago and the Chicago Public School system." That also could include a provision allowing City Hall to declare bankruptcy as well, the source said.
Emanuel has spoken out against Rauner's bankruptcy idea in the past, saying instead the state should provide more money to CPS to cover its pension costs. That position hasn't changed.
Continued at www.chicagotribune.com/news/local/politics/ct-illinois-republicans-cps-bankruptcy-met-20160119-story.html .
It's the latest move as Gov. Bruce Rauner and Mayor Rahm Emanuel continue to play the blame game over CPS' $480 million budget shortfall that threatens layoffs and has led to heavy borrowing to keep the state's largest school district afloat.
House Republican leader Jim Durkin and Senate Republican leader Christine Radogno are scheduled to unveil the proposals at a Wednesday morning news conference where an adviser said they'll "introduce legislation pertaining to the fiscal crisis in the city of Chicago and the Chicago Public School system." That also could include a provision allowing City Hall to declare bankruptcy as well, the source said.
Emanuel has spoken out against Rauner's bankruptcy idea in the past, saying instead the state should provide more money to CPS to cover its pension costs. That position hasn't changed.
Continued at www.chicagotribune.com/news/local/politics/ct-illinois-republicans-cps-bankruptcy-met-20160119-story.html .