Illinois

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.

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 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.

The Chicago Transit Authority's receipt of a $120 federal loan under the Transportation Infrastructure Finance Innovation Act for the renovation of a major light-rail line was announced Thursday by city and federal officials.

Illinois Gov. Bruce Rauner laid out an agenda Wednesday aimed at promoting business and economic growth by overhauling the tax code, curbing some organized labor powers with other reforms targeting public pensions and unpaid bills.

The Chicago Transit Authority struck a $32.5 million deal with four telecommunications companies to finance the upgrade of wireless phone service in the authority’s subway system to a 4G network.

The Chicago Transit Authority received AA-minus and A-plus ratings on its planned $120 million TIFIA loan for the renovation of a major rail transit line.

Chicago Mayor Rahm Emanuel's top infrastructure priorities if re-elected to a second term are safe and efficient transit options, expanding access to parks and recreational areas, and creating more anchors for economic growth in city neighborhoods.

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.

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.

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.

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.