Yvette Shields

Legislation raising Iowa's gasoline tax by as much as 10 cents to bolster state transportation spending is being prepared with several key lawmakers saying the bill stands a good chance due to mounting bipartisan support for action.

Boston-based Nixon Peabody LLP and Chicago-based Ungaretti & Harris LLP will merge on Feb. 1, a pairing that lands Nixon a seasoned public finance team in Chicago while broadening Ungaretti's reach nationally.

A federal judge ordered the former comptroller of a Harvey, Ill., to pay more than $200,000 in fines and barred him from participation in any future municipal issues for his role in misleading investors on several of the south Chicago suburb's past bond offerings.

One day after unveiling a 10-year, $11 billion transportation plan, Minnesota Gov. Mark Dayton laid out the second major piece of his legislative agenda Tuesday in announcing a $42 billion two-year budget that taps the state's $1 billion surplus to raise education spending.

Wisconsin would divert future growth in income taxes paid by Milwaukee Bucks players and visiting teams to repay $220 million in state appropriation-backed borrowing to help finance a new professional basketball arena under a plan Gov. Scott Walker will include in his new budget.

Standard & Poor's has revised its outlook on Columbia College Chicago's underlying BBB-plus rating to negative from stable over its operational struggles and management turnover.

Chicago's O'Hare International Airport reclaimed the title of world's busiest airport in 2014 a decade after ceding the status to Atlanta's Hartsfield-Jackson Memorial Airport.

Wisconsin must close a $283 million gap this year and erase another $648 million more of red ink in following two years to keep its books balanced, according to the latest revenue forecast that will guide the crafting of a new two year spending plan.

The Illinois Supreme Court denied requests by Chicago, other issuers, several civic groups, and a municipal lawyers group to file briefs supporting Illinois Attorney General Lisa Madigan's defense of state pension reforms.

The Chicago region needs $16.6 billion over the next decade for routine transit maintenance and capital spending with another $19.5 billion tacked on to the tab to cover deferred investment, the Regional Transportation Authority warned.

Illinois Gov. Bruce Rauner has imported three outsiders all with government experience to lead a "turnaround team" that includes the new position of chief financial officer to be filled by consultant Donna Arduin. He also named former Hawaii Gov. Linda Lingle and former Georgia COO Trey Childress to his team.

Missouri Gov. Jay Nixon unveiled a fiscal 2016 budget that begins drawing on existing bonding authority to fund more than $300 million in projects at state facilities and public higher education institutions as the new legislative session kicks into high gear.

Chicago and its south suburban neighbor Harvey have struck a $20 million settlement that resolves a dispute over the suburb’s delinquent payments for city-supplied water.

Chicago-based William Blair & Co. hired veteran underwriting manager John Feery to lead its negotiated underwriting group, finalizing leadership team changes as the firm pursues its national expansion path.

Illinois needs both spending cuts and tax hikes to fix a chronic budget imbalance that will grow to $14 billion over the next decade without structural change, an academic research group warns.

Chicago's lawyers warn that the fiscal well-being of the city and its sister governments hangs in the balance as the Illinois Supreme Court considers whether the state's sovereign police powers trump constitutional protections against cutting pensions.

Edina, Minnesota voters will decide the school district's request for $125 million in borrowing authorization when they vote on May 5 ballot.

Newly installed Illinois Gov. Bruce Rauner's executive order halting new contracts puts a hold on some pending contracts planned by the state's tollway agency and planning work on the proposed Illiana toll road.

Wisconsin Gov. Scott Walker touted tax cuts, the state's structural fiscal strides, and pledged to cuts costs by merging some agencies in a state of the state address that offering no additional specifics on how he plans to erase a looming budget deficit.

Menasha, Wisconsin, which fell into junk bond status after defaulting on notes tied to a power plant conversion project that went awry, has won back its investment grade rating from Moody's Investors Service.