Yvette Shields

The Chicago Public Schools is seeking board approval to tinker with $700 million of debt in its portfolio.

Iowa Gov. Terry Branstad signed into law a transportation funding package that raises the state's tax on gasoline and diesel fuel by 10 cents a gallon and lifts permit fees on oversized vehicles.

Chicago Mayor Rahm Emanuel faces a run-off against his top challenger Jesus "Chuy" Garcia after failing to capture a majority of the vote in Tuesday's mayoral contest.

Moody's Investors Service expressed doubt that retirement benefit savings pitched by Gov. Bruce Rauner can be achieved in time to balance the proposed 2016 budget.

Wisconsin's capital finance office is seeking applicants to fill two spots on its team charged with managing state borrowing programs.

Minnesota Gov. Mark Dayton unveiled projects in line for funding if lawmakers approve his plan to bolster transportation spending by billions in the coming years through tax and fee hikes and borrowing.

Moody's Investors Service hit Sangamon County School District 186 with a downgrade and warned of the possibility for further deterioration in part due to pressures from the state's fiscal struggles.

Rating agency analysts and other market participants labeled Illinois Gov. Bruce Rauner's proposed fiscal 2016 budget, which relies on cuts to close a big deficit, an opening shot in a long game with an uncertain outcome ahead.

Public finance banker R. Ray Kljajic, a staple of Chicago's municipal bond community, is leaving Citi after a 25-year career there to pursue consulting and other opportunities in the infrastructure realm and in tax policy.

Republicans embraced Illinois Gov. Bruce Rauner's proposed budget as "bold" while Democrats who control the General Assembly slammed the depth of spending cuts and labeled a reliance on savings from pension reforms as "reckless."

Illinois Gov. Bruce Rauner unveiled a fiscal 2016 budget that would cut spending across state government to close an estimated $6 billion gap without tax increases.

Illinois Gov. Bruce Rauner is expected to propose deeply slash state spending to erase billions of red ink in the fiscal 2016 budget without new taxes, legislative leaders said.

Oral arguments in the case challenging Illinois' 2013 public pension overhaul will be heard March 11.

The Sterling, Ill., Park District is now teetering on the brink of junk bond status as it struggles with limited liquidity to deal with its fiscal pressures.

Standard & Poor's dropped Wayne County, Mich.'s limited-tax general obligation rating out of investment grade territory over its weakening financial position and warned of the potential for further deterioration.

Wisconsin will leave $108 million of low-interest commercial paper in place instead of paying off it off as planned in the current fiscal year, in a move that will provide near-term relief to help Gov. Scott Walker close a $283 million shortfall; critics call it a scoop and toss.

U.S. Bankruptcy Court Judge Steven Rhodes, who oversaw Detroit's historic Chapter 9 bankruptcy, will retire Feb. 18, the court announced Friday.

Ascension Health's sale of two Kansas City, Missouri area hospitals to a for-profit was cleared after Ascension agreed to set aside $20 million in sale proceeds to fund acute indigent medical care, Missouri Attorney General Chris Koster said.

Illinois Gov. Bruce Rauner is poised to reveal his plan to erase billions of red ink, with analysts, investors, and budget watchdogs warning that cuts alone aren't likely to solve the state’s long-term structural woes.

After years of contentious debate, construction is expected to soon begin on a starter streetcar system in downtown Milwaukee with the Common Council's approval of a $124 million capital budget for the 2.5 mile project.