Northeast

The Erie County Fiscal Stability Authority plans to sell $174 million of bonds on behalf of the New York county in a deal announced Friday.

TRENTON, N.J. — New Jersey Gov. Chris Christie yesterday declared a fiscal emergency and announced his plans to withhold $475 million of school aid, as well as cut funding to New Jersey Transit, higher education, hospitals, and other programs to fill a $2.2 billion fiscal 2010 billion deficit.

Massachusetts Gov. Deval Patrick yesterday filed new legislation for tax credits and borrowing initiatives for small and medium-sized businesses to help promote job growth.

Rhode Island budget director Rosemary Booth Gallogly will leave her post to become acting director of the departments of administration and revenue, pending Senate confirmation, Gov. Donald Carcieri announced Tuesday.

James Gill resigned as chairman of the Hugh L. Carey Battery Park City Authority after 14 years in the post, New York Gov. David Paterson announced Tuesday.

February in New York has produced a blizzard of political upheavals as rumors swirl around Gov. David Paterson, two politicians’ careers may be finished, and a special election cements a political dynasty.

With an eye beyond the next fiscal year, Pennsylvania Gov. Edward Rendell yesterday released his fiscal 2011 budget proposal and urged a broadening of the state’s sales tax and corporate tax to help address projected deficits in the billions for fiscal 2012 and fiscal 2013.

New York City’s economic development bond issuers hope to get additional bond allocations under the recovery zone facility bond program, issuer staff said yesterday.

New York Gov. David Paterson wants to increase the level of taxation on New York City businesses to support the Metropolitan Transportation Authority, the according to a press release yesterday.

The University of Pittsburgh Medical Center next week will issue $720 million of tax-exempt revenue bonds, part of the health care provider’s $1.1 billion debt refinancing plan.