Gov. Rauner discusses Chicago Public School budget

CHICAGO (WLS) -- Governor Bruce Rauner held a press conference Monday afternoon where he discussed the Chicago Public School budget and the teacher pension crisis.

"Time is of the essence. We cannot afford-the children of Chicago deserve prompt action. We can't wait any longer," Gov. Rauner said "It's important that the rest of the state, other school districts, other taxpayers throughout the state of Illinois also benefit through structural reform, not just the city of Chicago."

The governor says CPS needs reforms for its proposed $5.7 billion budget next year.

But that's dependent on nearly half a billion dollars in state funding which might not come unless lawmakers agree to governor's proposed reforms.