CHICAGO - Civic leaders and lawmakers are praising the Chicago Board of Education for approving a budget Thursday night that had been on track to fail.

The vote means Chicago Public Schools students and parents can breathe a sigh of relief. The deadline was Friday, and a rejection could have triggered a shutdown.

What we know:

A majority of board members had initially opposed the plan because it excluded short-term borrowing and a $175 million pension payment sought by Mayor Brandon Johnson and the Chicago Teachers Union. But heavy lobbying on both sides flipped enough votes to secure approval.

Instead, the budget relies on $379 million in tax-increment financing revenue the mayor will send to CPS.

Civic Federation President Joe Ferguson called it an imperfect solution but said resi

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