Governor Bruce Rauner speaks during a news conference in Chicago on July 5. Credit: AP Photo/G-Jun Yam, File

Welcome to the Reader‘s morning briefing for Friday, July 14, 2017.

  • Report: The ongoing feud between CPS and Rauner could stop funding for other Illinois schools

Governor Bruce Rauner has been locked in a feud with Democratic lawmakers for months over funding for Chicago Public Schools, and if they don’t reach an agreement by the end of the summer, funding for other Illinois schools is in jeopardy, according to the Tribune. The Illinois house and senate passed a budget last week, and “Democrats inserted a provision aimed at pressuring Rauner to sign into law a rewritten school funding formula that he opposes,” according to the report. But if Rauner vetoes the rewritten formula and a new deal isn’t reached, the state can’t pay out education funding. [Tribune]

  • Audit: Chicago’s pension crisis has gotten worse but the cash balance is better

Mayor Rahm Emanuel has successfully increased the city’s bank accounts, but the pension crisis has gotten worse, according to a new city audit. At the end of 2016, the city had $153.7 million in cash compared to the $60.7 million it had at the end of 2015. But the pension crisis has gotten worse despite several new tax increases aimed at paying the debt. The city owes $23.17 billion counting “overlapping debt,” according to the Sun-Times. [Sun-Times]

  • Al Sharpton visits Chicago and talks Trump experience

Reverend Al Sharpton visited Chicago Tuesday to call for a federal consent decree to oversee reforming the Chicago Police Department. He also discussed his expertise working with President Donald Trump, which he says he can use to help Chicago. “Donald Trump’s from New York, and I know Donald Trump better than folks in Chicago,” Sharpton said at a news conference. “That is why I’m working with the ministers and in Chicago to understand what we’ve got to do under this New Yorker’s administration.” [Tribune]

  • Rahm criticizes Rauner for going in a “radical, reactionary” direction after budget battle

Mayor Rahm Emanuel believes that Governor Bruce Rauner’s sudden staff shakeup indicates that he’s moving farther to the right after the Illinois house and senate overrode his veto of an income tax hike and spending plan. Emanuel also believes he’s moving away from bipartisanship, and breaking with tradition, pointing to moderate Republicans Governors Jim Edgar and George Ryan, among others. “[We still need] moderate Republican voices that want to work to make progress, and you can see that in Dan Cronin today in DuPage County,” Emanuel said. “This is a wholesale rejection of that, and going in a much more radical, reactionary version.” [WBBM Radio]

  • The White Sox and Cubs make a rare, high-profile trade deal that benefits both teams

It’s pretty rare for the Chicago White Sox and the Chicago Cubs to make a high-profile trade deal, but it happened Thursday, when the White Sox traded left-handed pitcher Jose Quintana to the Cubs in exchange for Cubs prospects Eloy Jimenez, Dylan Cease, Matt Rose, and Bryant Flete. The trade is a win-win for both teams, according to ESPN’s Bradford Doolittle. “The Cubs’ need for starting pitching help has been well-chronicled,” and the rebuilding White Sox get four impressive prospects. The last time the teams made an exclusive trade was 2006; the most profile the one that sent a young Sammy Sosa and pitcher Ken Patterson to the Cubs for George Bell in 1992. [ESPN]

  • Chance the Rapper and Common nominated for Emmys—-in the same category

Chance the Rapper and Common are both nominated for the best original music and lyrics Emmy Award, which means two of Chicago’s most popular rappers are competing against each other. Chance is nominated for his performance of “Jingle Barack” on Saturday Night Live and Common is nominated for his song “Letter to the Free,” which was featured in Ava DuVernay’s documentary 13th. The Emmys take place in Los Angeles in September. [DNAinfo Chicago]