Midwest

Illinois lawmakers' research arm projects more revenue in the current budget year but warns budget writers to proceed with caution in the next.

Mayor Mike Duggan proposed a budget that includes the resumption of general fund pension contributions, meeting a timetable set in the city's bankruptcy exit.

Each would preserve their individual brands with a new organization functioning as the parent company with the aim of cutting administrative costs.

The state's once-depleted rainy-day fund that's now on track to hit nearly $2 billion this year would receive automatic deposits when two financial metrics are hit under pending legislation.

Paul Vallas, a former city budget director and public schools chief, and Brandon Johnson, a Cook County commissioner and teachers' union organizer were the two top vote-getters in Tuesday's election sending them to an April runoff.

Questions arise over the condition of rail infrastructure and how it should influence credit and buy side analysis of local governments that host rail lines.

The state's flagship university said its proposal to acquire its healthcare facilities from Fairview, which is preparing to merge with an out-of-state healthcare system, requires state help.

Sarah Wetmore, its VP and research director, will lead the organization while the board searches for a permanent president following Laurence Msall's death.

Chicago's school district will tap its investment-grade dedicated capital improvement tax credit for the first time in five years in a $529 million deal.

Moody's and S&P also warn of the potential for further downgrades; UC Health has begun to implement financial turnaround strategies amid operating losses.