Thousands of people marched through downtown Chicago on Thursday night. The rally was held by the Chicago Teacher s Union. They, along with other groups who stood in solidarity with the union, were demonstrating against the budget cuts, lay-offs, and more.#CTU takes the street #brokeonpurpose pic.twitter.com/gfj4Buqt0K  Aaron Cynic (@aaroncynic) February 4, 2016 @ctuLocal1 #FairContractNow rally through #Chicago loop. #CTU #CPS #reportage #journalism pic.twitter.com/5sX0qdWVn3  Chris Riha (@TalentedMrRiha) February 5, 2016A major target for the CTU was Bank of America. They claim that BOA and the Chicago Public School system made a number of unwise financial investments that the teachers and students have been deeply hurt by. WGN reports:  CPS says it needs the bond money for existing debt payments to cover construction and repair projects.This all comes after the union rejected a contract proposal that would have required members to pay more toward their pension and health care.The district then announced it would slash $75 million from school budgets.According to a Chicago Tribune poll, three times as many Chicagoans side with the teacher s union versus Mayor Rahm Emanuel on how to improve public schools.The survey also found that Emanuel s approval rating on education has fallen to a record low as it has with his overall job performance and handling of crime in the city. #CTU #faircontractnow Sit in started at Bank of America building   Photos from inside @Sarah4Justice @CTULocal1 pic.twitter.com/LFxm8rP4wm  Bill Chambers (@Chgofenian) February 4, 2016Protesters filled the streets, causing traffic on the Loop to slow to a crawl. Many of the protesters carried signs that lobbed attacks at Chicago s mayor, Rahm Emanuel.The CTU released a statement, saying: Our goal remains the same: reaching an agreement that protects our children while treating teachers fairly. We know our work is not finished, and we are committed to building a mutually respectful relationship with the CTU and working at the bargaining table around the clock so Chicago children can remain in the classroom. In the meantime, because of our dire financial circumstances, we must proceed forward with painful cuts in the absence of an agreement. We are hopeful we can rescind these cuts by swiftly reaching an agreement. It looks like the Emanuel administration will be embroiled in just as much controversy this year as it was in 2015. Last year, The Nation released an editorial, calling for Emanuel to resign. Among Emanuel s numerous sins, is his terrible track record with educators. Particularly with the teacher s union.#CTU marches against #Rahm pic.twitter.com/CbTxRRf5s0  Joe Iosbaker (@iosbakerjoe) February 4, 2016Emanuel also garnered national attention over allegations that his administration took part in a cover up to prevent video footage that shows the death Laqaun McDonald, who was shot sixteen times by a Chicago police officer.  So far, there has been evidence released that shows that the mayor s office was in working in coordination with the CPD.Featured image from video screenshot via WGN