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There is no official answer on how the mayor will fill the
budget gap, after he rejected cuts proposed by CPS
administrators.
“I have not changed my mind about investing in our children. I
will never change my mind,” Johnson said.
The mayor was asked if he would consider a long-term,
high-interest loan.
“I’m not going to tolerate cuts to our children. I’m not going
to tolerate it. And so, there are a number of considerations
that we have to make to ensure that our children get what they
deserve,” Johnson answered.
Truth in Accounting reports that the City of Chicago has a debt
load of nearly $40 billion, or about $43,000 per taxpayer.
Johnson said the state of Illinois owes the children and the
families of Chicago $1.1 billion.
The mayor said the state also owes public schools outside of the
city.
“They’re gonna owe the second-largest school district, U-46,
more resources. School districts in Waukegan, Tamms, Illinois,
East St. Louis: all of us are going to require the state of
Illinois to up its investments in our young people,” Johnson
said.
The Illinois General Assembly passed legislation in 2017 that
switched the state to Evidence Based Funding of schools.
Wirepoints reports $8.5 billion in new funding for K-12 schools
in Illinois since the change.
According to the Illinois Policy Institute, CPS spent $29,028
per student in the 2023-2024 school year, among the highest in
the U.S. In 2014, CPS spent $15,011 per student, a nearly 100%
increase.
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