Midwest

The Illinois General Assembly's Democratic majority will press ahead Wednesday with a vote on a $2.26 billion, one-month budget to fund essential services as the new fiscal year dawns with no end to a budget stalemate in sight.

Chicago and school officials plan Wednesday to lay out a comprehensive, long-term plan to address the pension and funding inequities for Illinois' schools.

Chicago Public Schools intends to make a $634 million pension payment due by the end of June 30, House Speaker Michael Madigan said.

Issuers from Illinois, Wisconsin and Michigan compared notes on market challenges at the Bond Buyer's Midwest conference; Illinois credits face the toughest sledding.

Puerto Rico's insolvency is a game changer that will have a deep and far-reaching impact on the market, municipal professionals said Tuesday at a Bond Buyer conference in Chicago.

Indiana is bringing $95 million of highly-rated taxable appropriation-backed bonds to market this week to finance an upgrade to the state's most popular sports facility, the Indianapolis Motor Speedway.

Cook County, Ill., Board President Toni Preckwinkle Tuesday formally proposed raising the sales tax to shore up the county's $6.5 billion pension shortfall, saying it's necessary because Springfield has refused to pass her reform proposal.

Illinois lawmakers convene Tuesday for a discussion on the impact of the partial government shutdown that looms due to a continuing budget impasse.

Clark Burrus, counsel to multiple Chicago mayors and mentor to countless public finance professionals, died this month. He was 86. He was remembered for both his financial and political acumen at funeral services last week.

Missouri budget director Linda Luebbering, who steered the state through recession while helping maintain its triple-A ratings, will retire August 6.