CPS budget crunch could raise city taxes

CHICAGO (WLS) -- Chicago Public Schools are dealing with a $1.1 billion budget shortfall. On Wednesday, the Board of Education approved what they called a "stop-gap budget" that does not address the schools' long-term financial problems; but instead offers a one-time fix to balance the 2016 budget. Part of the budget problems come from paying a $700 million teacher pension payment. Director at Performance Trust Capital Partners in Chicago, Brian Battle, says the city will need to raise property taxes as much as 25% and that still won't be enough. Battle joined ABC 7 Eyewitness News for the Weekend Morning show.