Illinois

Without more federal relief, the Illinois Regional Transportation Authority's service boards warn of devastating service cuts, layoffs and fare hikes.

The Finance Committee signed off on new money, refunding, and scoop-and-toss debt restructuring deals and finance teams to assemble and sell the bonds.

The state's backlog of unpaid bills will grow to $35 billion by 2026 if it doesn't make any structural budget fixes, according to a new forecast.

Mayor Lori Lightfoot's budget plan strikes the right balance between structural and one-time measures amid the coronavirus, says Jennie Huang Bennett.

Illinois General Assembly leaders canceled the annual veto session amid rising COVID-19 cases, which means lawmakers won't act on the state budget before January.

The rating agency cited higher leverage from borrowing plans to fund expansions and renovations and passenger traffic losses from the coronavirus pandemic.

The IFA is hoping to capitalize on growing investor interest in green and sustainable bonds.

Gov. J.B. Pritzker says preservation of the investment-grade status is "very important;" Illinois bonds traded wider after the income tax referendum failed.

The defeat of Gov. J.B. Pritzker's "Fair Tax" strikes down a pillar of his plan for the state's wobbly finances and increases risk to the state's bond ratings.

Traffic is recovering at the Illinois State Toll Highway Authority, which is planning $600 million of new borrowing for its 2021 capital plan.