CPS board passes tax hike

Chicago Public Schools' governing board today unanimously approved a tax increase to support a $5.9 billion budget for next year.
A property tax increase that will cost an average homeowner roughly $84 a year, and potentially hundreds of layoffs, the school district remains in financial peril. CPS staff says escalating pension and health care costs will contribute to an $860 million budget deficit in 2014, and that's assuming all other expenses remain flat.