Yvette Shields

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.

Missouri Gov. Jay Nixon on Tuesday announced agreements that would help pave the way for the future construction of a new St. Louis Rams football stadium at a site just north of downtown St. Louis.

Wisconsin Gov. Scott Walker's administration rejected a proposal pitched this week by the Menominee Tribe to cover $220 million in state funding for a new Milwaukee Bucks basketball arena in exchange for a new casino.

The Missouri Senate will vote Thursday on legislation tightening limits on how much local governments can rely on court-related fines to prop up their operating budgets.

Illinois Capital Markets Director John Sinsheimer will resign this week as the state's debt manager after more than five years in the position, Gov. Bruce Rauner's office said Tuesday.

The Board of Trustees for the Minnesota State Colleges and Universities system takes competitive bids Wednesday on $78 million of new money and refunding bonds.

The steady annual climb in the collective long-term, tax-supported debt of Chicago, Cook County, and the city's sister agencies reversed course in 2013, doing little to dent a debt tally that is up almost 60% over 10 years.

Illinois Gov. Bruce Rauner on Monday signed an executive order freeing state employees who opt not to join a union from having to pay so-called "fair share" fees used to fund unions' political activities.

More urgent budget problems, and a partisan divide, mean an uncertain fate for proposals by Illinois Gov. Bruce Rauner to establish a Chapter 9 bankruptcy law for local governments and passage of a constitutional amendment on pensions.

Illinois Gov. Bruce Rauner is defending plans to pay top fiscal aide Donna Arduin $120,000 under a four month, non-competitively bid contract, calling his new chief financial well worth the expense to help fix the state's fiscal mess.

Missouri will soon be in the market for a new transportation leader following the announcement that Department of Transportation Director Dave Nichols plans to retire May 1.