Business and Finance
Source : (remove) : WBEZ
RSS • JSON • XML • CSV
Business and Finance
Source : (remove) : WBEZ
RSS • JSON • XML • CSV

Mayor Johnson lacks the votes to compel CPS to make city pension payment, giving him days to find the cash


//business-finance.news-articles.net/content/202 .. on-payment-giving-him-days-to-find-the-cash.html
Published in Business and Finance on Monday, March 24th 2025 at 20:21 GMT by WBEZ   Print publication without navigation

  • Seven of 20 school board members say they oppose reimbursing the city for the payment, leaving the mayor without enough yes votes. The city has until March 31 to settle its books.

Mayor Brandon Johnson of Chicago is facing a significant challenge in securing the necessary votes to compel Chicago Public Schools (CPS) to make a $160 million pension payment, which is part of a broader $350 million contribution required by state law. Despite his efforts, Johnson lacks the votes in the City Council to override CPS's financial independence, which was granted in 1995. This situation has led to a critical deadline, with only days left to find alternative funding sources or face potential legal and financial repercussions. The mayor's office is exploring various options, including reallocating funds from other city departments or seeking state assistance, to meet the pension obligation without further straining CPS's already tight budget. The urgency of the situation underscores the ongoing tension between city governance and the financial autonomy of CPS.

Read the Full WBEZ Article at:
[ https://www.wbez.org/education/2025/03/24/mayor-johnson-lacks-the-votes-to-compel-cps-to-make-city-pension-payment-giving-him-days-to-find-the-cash ]

Publication Contributing Sources