After Legislative Republican Leaders Christine Radogno and Jim Durkin offered a plan they say is a lifeline for a Chicago Public School system embroiled in fiscal crisis, the Chicago Tribune weighed in. On January 20, the Chicago Tribune Editorial Board noted that “The GOP proposals recognize reality: The Chicago school financial crisis is here.”
The editorial noted that while Democrat leaders panned the proposals offered by Republicans, they have offered no resolution to “prevent CPS from collapsing, aside from pleading with lawmakers for $480 million that the Chicago school board baked into its budget purely in hopes that state lawmakers would provide it.”
Additionally, the editorial board said, “What we're hearing is that the school district will resort to yet more borrowing, or to a one-time gimmick like a dip into tax-increment financing revenue, in order to stagger to the June 21 end of the academic year. Or the schools will close before then.”
According to the editorial, “Is it such an extreme idea to create an authority to oversee CPS finances? Not at all. A state-created oversight authority had such power for 15 years, until 1995. No one in this mess has the luxury of rejecting that idea out of hand.”
You can read the entire editorial at the Tribune website. And learn more about what state Republican leaders are proposing by clicking here.