Midwest

Chicago Mayor Rahm Emanuel scored a major legislative victory with the state House’s overwhelming bipartisan approval of legislation designed to stave off looming insolvency for two of the city’s pension funds.

The Michigan House on Thursday began hearings on a plan introduced by House Republicans to limit retirement healthcare benefits for police officers, firefighters and other government workers in cash-strapped municipalities across the state.

Illinois Gov. Bruce Rauner vetoed legislation that would give Chicago Public Schools $215 million toward pension contributions, a move that potentially slaps the cash-strapped district with a big budget hole to fill.

Chicago wrapped up its second billion-dollar airport deal within a month at a price that displays how much the market has changed in that short time.

The Chicago City Council signed on a new special use tax-increment financing district designed to help leverage $1.1 billion in federal funding for Chicago Transit Authority rail transit improvements.

The Michigan Senate advanced a series of bills designed to offer financial aid to “transformational” development projects.

Milwaukee’s $10 million competitive sale of water revenue bonds Thursday will mark the city’s first publicly offered issuance under the credit since 1958 as it launches a shift to more borrowing for water projects.

Chicago's effort to right its fiscal path remains an uphill battle, according to expert panelists convened by the City Club of Chicago.

Legislative backers of Chicago’s funding overhaul of its municipal and laborers’ pension funds expect a vote in the final days of the General Assembly’s veto session after dropping language from the bill that would have subordinated pension contributions to bond repayment.

Joining the crowd of borrowers, the Minneapolis-St. Paul Metropolitan Airports Commission plans a $438 million deal next week, marking its first new money sale in four years.