Midwest

Multiple tax hikes, strict spending limits, and borrowing to pay off old bills are all needed to dig Illinois out of its deep fiscal hole, the Chicago Civic Federation warned.

Chicago is stepping up a long-stalled effort to establish an express rail service from downtown Chicago to O'Hare International Airport, its mayor said.

St. Louis voters will decide whether to raise taxes to fund a light-rail expansion and other projects and to cover the city's contribution for a new professional soccer stadium.

Wisconsin Gov. Scott Walker laid out a two-year, $76 billion budget that offers a mix of tax cuts, more school funding, and the lowest bonding authorization in years.

Canton, Ohio, was slapped with a two-notch downgrade over its ongoing budget struggles.

The Illinois Senate passed along party lines three of the 11 bills that make up a proposed “Grand Bargain” budget fix before a fourth on pension reforms failed as a rift over the timing of the votes prompted Republicans to yank their support.

Michigan Gov. Rick Snyder presented a fiscal 2018 budget plan to tackle the state’s unfunded retiree obligations and bolster education funding while maintaining growth in the rainy day fund.

Chicago-based Mesirow Financial Inc. is tapping its capital markets division president Dominick Mondi to serve as company president.

Wayne County Executive Warren Evans said he is keeping the county’s options open for a jail site after the backers behind a Major League Soccer expansion bid proposed a site swap.

Michigan Gov. Rick Snyder has formed a task force charged with recommending how to tackle local governments’ unfunded retirement obligations.