Illinois Republicans propose state takeover of CPS and possible bankruptcy protection

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CHICAGO -- Top Illinois republican leaders, backed by Governor Bruce Rauner, propose a state takeover of Chicago Public Schools.

But they face an uphill battle against Mayor Emanuel and the democratic controlled General Assembly.

The proposed legislation would allow the Illinois Board of Education to remove the current CPS School Board.

Right now the district is facing about a half billion dollar budget shortfalls.  Without state help it says massive layoffs are expected.

Filing for bankruptcy would allow CPS contract with the Chicago Teachers Union to be renegotiated.

Lawmakers call the proposal a "lifeline" and not a "state bailout."

Mayor Emanuel is in Washington, D.C. today attending the annual Mayors Conference.

His office says Emanuel is "100% opposed" to a state takeover of CPS and bankruptcy.

Instead, Emanuel urged the governor to pass a state budget and give CPS more money to cover its pension costs.

If the proposal is to go anywhere in Springfield the top two democrats need to allow a vote.

Senate president John Cullerton released a statement saying in part “This is not going to happen,” adding, “It’s a far-fetched notion that the state is somehow in the position to take over the Chicago schools.

Speaker Madigan piled on--in a statement saying the governor “hopes to use a crisis to impose his anti-middle class agenda.”

Rauner sees it differently.

"Dozens of other states have the opportunity their school districts and municipalities to go bankrupt we believe that is good management practices," he said.