Good afternoon, Chicago.

One week before Donald Trump moves back into the White House, the Democrats representing the Chicago area in Congress are strategizing ways to limit the scope of the Republican president-elect’s plans.

Trump and his GOP allies have signaled that they would quickly target Illinois and other Democratic bastions once Trump assumes the presidency and as Republicans now control both chambers of Congress.

Here’s what else is happening today. And remember, for the latest breaking news in Chicago, visit chicagotribune.com/latest-headlines and sign up to get our alerts on all your devices.

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Report: CPS on the ‘financial brink,’ state takeover not out of the question

The new Chicago Board of Education being seated Wednesday — the first to have elected members — will stare down a district on the financial brink: an imbalanced budget, rising costs, falling student headcount, a long list of infrastructure needs and steep debt and pension liabilities.

More top news stories:

• Illinois House speaker to Mayor Brandon Johnson: Get ready to hear ‘no’ a lot in Springfield
• Millions have had student loans canceled under Joe Biden — despite the collapse of his forgiveness plan

CTA President Dorval Carter to step down

Dorval Carter is out at the CTA. The transit agency president announced his retirement today in a CTA news release, after years in the hot seat as riders complained about unreliable service, conditions on trains and buses and concerns about personal safety.

More top business stories:

• Debate over the future of CTA, Metra, Pace, RTA to heat up in Springfield this year
• WGN-Channel 9 reporter Dean Richards sells Avondale home for $949,000

‘You need to go into these searches wide open’: Assessing the Chicago Bears’ hunt for their next coach

One thing is for certain as the Chicago Bears continue through this high-stakes search for their head next coach: They have lost the benefit of the doubt.

More top sports stories:

• Chicago Bulls redefined themselves after DeMar DeRozan’s departure — but his influence remains
• Top-ranked UCLA women to play Penn State in Long Beach after basketball game moved due to wildfires

It’s official, Chicago’s International Puppet Fest has gone big time — 2025’s opens this week.

Make way, ghosts of holiday shows past: it’s a new year for Chicago theater, and as usual, the Chicago International Puppet Theater Festival is kicking it off with a bang. Now in its seventh iteration, the 2025 festival presents puppet artists and companies from across the U.S. and 13 other countries — including, for the first time, China, India and Scotland — at dozens of local venues starting later this week.

More top Eat. Watch. Do. stories:

• Reviews: Perilla Steakhouse, Sando Street and Santa Masa Tamaleria
• ‘Den of Thieves 2’ opens at No. 1 as ‘Better Man’ flops

Joe Biden says he was the steady hand the world needed after Donald Trump, who’s ready to shake things up again

As Joe Biden prepares to leave office, he remains insistent that his one-term presidency has made strides in restoring American credibility on the world stage and has proven the U.S. remains an indispensable partner around the globe.

More top stories from around the world:

• Progress made in talks over Israel-Hamas ceasefire and hostage release, officials say
• Jeff Bezos’ space company calls off debut launch of massive new rocket in final minutes of countdown
• Los Angeles wildfire deaths rise to 24 as more fierce winds are forecast