Overview

• State lawmakers said at a July 31 hearing they want CPS fully financed but did not pledge immediate aid to bridge its $734 million shortfall.
• Interim CEO Macquline King testified that the district has exhausted all available revenue-raising measures.
• CPS has eliminated dozens of central office jobs and crossing guard positions to avert deeper school-based layoffs.
• The Chicago Teachers Union rallied outside the hearing calling for a special legislative session and a Massachusetts-style millionaires tax to secure funding.
• The district must finalize its 2026 budget and secure school board approval by August 28 to comply with state balanced-budget rules.