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2mo ago

Mayor Johnson Hosts Emergency Talks to Resolve CPS Budget Crisis

Key stakeholders meet ahead of a pivotal Board of Education vote on a contentious budget amendment to address financial shortfalls and prevent a teachers strike.

Chicago Teachers Union President Stacy Davis Gates and Vice President Jackson Potter answer questions outside the mayor's office on Wednesday, March 19, 2025.
CPS CEO Pedro Martinez heads up to a meeting at City Hall on March 19, 2025. (Eileen T. Meslar/Chicago Tribune)

Overview

  • Mayor Brandon Johnson convened CPS CEO Pedro Martinez, CTU President Stacy Davis Gates, and other officials to mediate a solution to the $175 million pension payment dispute.
  • The Board of Education will vote on a budget amendment proposing options like borrowing, refinancing debt, or reallocating TIF funds to address a $240 million shortfall.
  • CPS CEO Pedro Martinez opposes reimbursing the pension payment, citing insufficient funds to cover both the payment and ongoing labor contract negotiations.
  • The Chicago Teachers Union has accused CPS leadership of obstructing contract negotiations, adding to tensions as a potential teachers strike looms.
  • Passage of the budget amendment requires a two-thirds majority, but divided opinions among board members leave the outcome uncertain.