CPS budget crunch could raise city taxes

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Chicago Public Schools are dealing with a $1.1 billion budget shortfall. (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.

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educationcpspublic schoolbudgetChicago - Downtown
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