(WBBM NEWSRADIO) — A public bargaining session this week showed the Chicago Teachers Union and Chicago Public Schools are far apart when it comes to solidifying a new contract.
CPS leaders said the union's proposal would expand the budget hole by five times in the next four years. CFO Miroslava Mejia Krug called the situation a serious financial challenge.
"Due to the expiration of federal relief funding plus cost pressures in … health care, pensions and other areas, CPS 2026 projected budget gap will be over $500 million," Mejia Krug said.
The session took place Tuesday night at Morgan Park High School.
District leaders downplayed Mayor Brandon Johnson's idea of taking out a short-term loan to pay for additional costs in the contract. The union argued the spending is necessary to further improve upon students' academic progress
The two sides have been negotiating since April 2024, and the contract expired at the end of June 2024.
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