Overview

• The Board of Education is scheduled to vote Thursday on a roughly $10.2 billion spending plan that closes a $734 million gap, with a simple majority required and warnings that missing the deadline could affect state standing and payroll.
• Mayor Brandon Johnson appointed Ángel Vélez to the vacant 21st seat ahead of the vote, and at least a simple majority of members has signaled support for adding the pension payment and keeping short‑term borrowing as an option.
• CPS CFO Miroslava Mejia Krug told members the board could authorize emergency borrowing later by a simple majority in a true emergency, while cautioning that adding borrowing authority now could trigger a credit downgrade and higher costs.
• District leaders say the proposal avoids direct classroom cuts but includes layoffs and operational reductions, counting on $379 million in TIF surplus that critics in the mayor’s office call uncertain.
• Political pressure intensified as 26 City Council members urged rejection of a short‑term loan while pledging to back some TIF surplus, and Gov. JB Pritzker reiterated that no additional state funding is available.