Midwest

Indiana lawmakers returning to work this week will tackle the state's school funding formula, as well as other issues, during the new budget session.

Incoming Illinois Gov. Bruce Rauner last week released a memo accusing former governors of “fundamentally dishonest” budget practices that led to the state's current financial crisis.

In a written ruling outlining his verbal affirmation of Detroit's bankruptcy exit plan, the federal bankruptcy judge overseeing the case warned that if Michigan does not act to assure that cities can pay their pensions, it may mean a repeat of the high-profile bankruptcy.

Missouri's proposed $2 billion upgrade of I-70 could be funded by tolling the 200-mile link between Kansas City and St. Louis.

After a series of downgrades and a federal court fight related to its mounting pension debt, Cincinnati has reached a pension deal that calls for the transfer of $200 million from its retiree health care fund.

The Motor City paid $170 million in attorney and advisor fees during the largest municipal bankruptcy in the U.S.

Ohio will kick off the New Year with a pair of borrowings that will total $360 million, as the state is in the midst of a major tax overhaul that analysts warn could derail the state's structural balance.

Beaumont Health, southeast Michigan's largest provider after a September merger with two local hospitals, is refunding $408 million of bonds in January for savings.

Wisconsin faces an $824 million shortfall to meet baseline costs anticipated in the next two year budget, according to a report from the Legislative Fiscal Bureau.

Unsustainable and unaffordable pension obligations that crowd out funding for essential services and infrastructure necessary for the health, safety and welfare of Illinois' citizens shouldn't override constitutional mandates on a government's purpose, said municipal restructuring veteran James Spiotto.