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Students and faculty walked out of class to gather at the pro-Palestinian encampment and call for divestment from companies doing business with Israel.
CTU members took buses to the state capital and split into groups to meet with legislators and make their case for additional funding as CPS faces a nearly $400 million budget deficit for next school year and some schools are reporting cuts.
The cancellation of the end-of-school-year music festival comes days after the university said it has reached a stalemate in negotiations with organizers of a pro-Palestinian encampment.
On Tuesday, Chicago's Jewish community celebrated Israel declaring its independence 76 years ago, on May 14, 1948. Pro-Palestinian demonstrators gathered across the plaza. There were a few altercations, but no arrests were made.