Wednesday, January 20, 2016

Plan for takeover, bankruptcy is 'lifeline' for CPS, Republicans say

The Chicago Sun-Times reports:
Legislation to allow an emergency oversight board appointed by the state to take over CPS – and also allow CPS to declare a Chapter 9 bankruptcy – is intended to save the school system, GOP leaders said Wednesday.

“What we are proposing is a lifeline,” Sen. Rep. Leader Christine Radogno, who appeared with Illinois House Minority Leader Jim Durkin at the Thompson Center in the Loop to discuss their legislative plans Wednesday morning.

“The goal here is to right the ship,” Durkin said, but the declaration is “not a bailout.”
No word yet from Barack Obama on this subject.