Pennsylvania

A rating agency sees progress in Pennsylvania’s new budget toward reducing the underfunding of its pension systems, though skepticism remains abundant about the state’s approach to the problem.

The Philadelphia Regional Port Authority has tapped Jeff Theobald of Ports America Outer Harbor in California to replace recently departed executive director James T. McDermott, Jr.

Pennsylvania’s $1.3 billion revenue package that balanced its fiscal 2017 budget is a strong step toward long-term budget balance, said Moody’s.

After passage of a $31.5 billion budget, S&P Global Ratings removed Pennsylvania from credit watch with negative implications.

Pennsylvania's fiscal 2017 budget makes progress on, but does not fully resolve the commonwealth's sizable structural budget gap, according to Fitch Ratings.

Gov. Tom Wolf signed a $31.5 billion budget after lawmakers filled a $1.3 billion gap through a patchwork of tax hikes and revenue assumptions.

A dispute over parking payments continues amid S&P Global Services' downgrade to junk bond status of bonds that funded a long-term parking lease.

The speed of Pennsylvania's response to its $1.2 billion budget imbalance will make a difference when it sells general obligation bonds next week.

Bond rating agencies, muni analysts and even constitutional experts are watching Pennsylvania after the governor let an unbalanced budget take effect without his signature.

Cincinnati, Ohio-based Dinsmore & Shohl LLP has hired Michael Jackson to expand its public finance practice in Philadelphia, Pennsylvania.

Gov. Tom Wolf said he would let Pennsylvania's $31.5 billion budget become law without his signature if lawmakers cannot agree on how to plug a $1.3 billion hole.

Brexit, the United Kingdom’s referendum vote to leave the European Union, may complicate the fiscal strife facing many Northeast states by adding another variable to problems that were already present.

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Pennsylvania's legislature sent Gov. Tom Wolf a $31.5B on-time budget. All that's needed is $1.2 billion to balance it.

Pennsylvania's House of Representatives on Tuesday night passed a $31.6 billion budget bill as the deadline hovers for a new fiscal year.

Philadelphia's new tax on sugar-sweetened beverages is a credit positive for Pennsylvania's largest city and is expected to improve its financial position, according to Moody's Investors Service.

A new sugar-sweetened beverage tax approved by the Philadelphia City Council last week will have little impact on city finances, according to Janney Capital Markets.

As Pennsylvania weighs moving new state hires into a hybrid plan partly based on 401(k)-style defined contributions, critics say it still leaves a massive unfunded liability untouched.

Development of Philadelphia’s 30th Street Station and several follow-up projects planned in the immediate area will generate billions in new taxes to the city and state, Amtrak and its partners said.

A former vice president at Bryn Mawr Trust Co. is asking several federal and state agencies to investigate the Pennsylvania bank for possible fraud.