Yvette Shields

Illinois Gov. Pat Quinn says the state should permanently extend a 2011 "temporary" income tax increase that is set to expire next year, saying the alternative is dire cuts to education and state services

Illinois Gov. Pat Quinn will lay out a fiscal 2015 budget proposal and reveal how he plans to deal with a looming income tax rate rollback. The Chicago Tribune is reporting the plan makes permanent the tax increase.

Illinois hospitals provided $704 million in charity care as part of $5.2 billion in annual "community benefits," according to the Illinois Hospital Association's latest review of hospitals' annual filings.

Milwaukee-based Robert W. Baird & Co. Inc. extended its public finance banking reach to Minnesota, establishing a new Minneapolis office by hiring Paul Donna, Michael Hoheisel, and Matt Rantapaa from Northland Securities.

Iowa's revenue estimating panel has finalized its projections for the next budget year offering numbers on par with its December report.

The Regional Transportation of Illinois is expanding its pursuit of companies and towns involved in the practice of setting up alleged sham offices in small towns to avoid higher sales taxes in Cook County.

Minnesota lawmakers were poised Thursday to vote on a plan to tap $434 million of the state's $1.2 billion budget surplus for tax relief and to set aside another $150 million to bolster budget reserves.

Illinois would impose an income tax surcharge on the state's millionaires to raise $1 billion of new revenue for school funding under a constitutional amendment proposed by state House Speaker Michael Madigan

Wisconsin received the AAA rating from Kroll Bond Rating Agency on its transportation revenue bond credit ahead of a nearly $400 million sale slated for Thursday. The other agencies rate the bonds in the mid- to high double-A category.

Illinois' economy, debts, and the fate of an expiring income tax hike are expected to take center stage in the governor's match between Democratic incumbent Pat Quinn and Republican businessman Bruce Rauner.

Plans for major terminal overhauls are afoot for airports at Kansas City and Des Moines where officials are promoting the need to modernize the air fields to meet current and future aviation demands.

More Illinois school districts struggled financially in their last fiscal year, according to the Illinois Board of Education's latest financial profiles report.

The Chicago Park District criticized Moody's Investors Service on for its latest downgrade, arguing the agency pays too much attention to the district's links with the city of Chicago and not enough to its fiscal strengths including recent pension reforms. Chicago Public Schools were also downgraded.

The Chicago Infrastructure Trust will open a search Wednesday for investors to finance energy efficiency upgrades at Chicago's public swimming pools.

The weight of Chicago's credit woes has driven a fresh round of downgrades for the Chicago Board of Education and Chicago Park District.

Wisconsin plans to come to market as soon as March 20 with nearly $400 million of new money and refunding transportation revenue bonds.

Illinois finished out its last fiscal year with the worst overall net financial position of any state reviewed by the state auditor general after the release of the state's comprehensive annual financial report, or CAFR.

Chicago pared down some of the expected interest rate penalty on its $880 million general obligation bond sale by drawing dozens of new investors in a market starved for issuance but still paid a steep price for its blemished credit.

Chicago received $3.6 billion of orders on its $884 million general obligation bond issue Wednesday that marked its first outing with GOs tarnished by two triple-notch downgrades and a drop into the Baa1 category.

The Illinois Finance Authority board signed on Centegra Health System's plans to borrow $200 million for a new hospital and an agreement to assist with obtaining ratings on a financing tied to the proposed Illiana toll road.