The Chicago Teachers Union reached a deal with the administration late last night, averting a strike that was scheduled to begin this morning. Chicago’s mayor has agreed to add more of the city’s revenue into the district’s budget. Despite the budget increase, from $32.5 million to $88 million, it is uncertain whether all of the contract terms will be funded. The contract must be ratified by 28,000 teachers, but it does not address the growing pension payments that are due in upcoming years.
See "Chicago mayor buys peace with teachers, fiscal impact uncertain", Karen Pierog and Timothy Mclaughlin, Reuters, October 11, 2016