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Lori Lightfoot would close an $838 million gap with a mix of permanent and one-time maneuvers including new taxes, spending cuts and debt restructuring.

UBS, the underwriter facing more than $800 million in lawsuits over the pension system bonds, argued the proposed schedule won't give it enough input.

The new wave of bond issuance continued unabated as more sales priced on Wednesday.

The Fed has been trying to rein in volatility in the market and keep the fed funds rate within its target range.

A Senate committee has approved a bill requiring remote sellers to collect the state's 6% sales tax. It could generate $700 million in new revenue.

llinois paper is looking more attractive when held up to Chicago city and Chicago Public Schools bonds, Citi analysts write.

Wisconsin will refund $622 million of taxable 2008 bonds in a sale that sheds swaps tied to Libor.

Massachusetts also came to market with a $1.4 billion sale of revenue anticipation notes in three offerings.

Lack of legislative cooperation wouldn't be a problem until after court-approval of a plan of a adjustment, observers said.

The proposal is highly doubtful to become law in the coming months given the limited number of days Congress will be in session the remainder of the year.

Municipal market participants got some comfort about their fraud liability if they act in good faith on interim financial disclosures.

The U.S. economy is sending mixed signals about the pace of growth going forward, said Neel Kashkari, president of the Federal Reserve Bank of Minneapolis.

No pension obligation bonds, scoop-and-toss, or backtracking on borrowing for operations are planned in the Chicago mayor’s budget fix.

Protesters targeted investors in prisons and Puerto Rico bonds at the Museum of Modern Arts' opening.

Andy Byford, president of the Metropolitan Transportation Authority's transit division, wrote a letter of resignation before rescinding it.

There's something for everyone on this week's primary calendar.

The South Carolina-owned utility redeemed $360 million as part of a two-year plan to reduce debt and stabilize electric rates for five years.

After getting national attention for allegedly swindling millions from a disabled billionaire client, brokers Ami Forte and Charles Lawrence have been barred from the industry.

Miami-Dade County is coming to market with over $1 billion of taxable and tax-exempt water and sewer system revenue and revenue refunding bonds.

Negative rates could add to central banks’ toolbox in the next recession, though the Federal Reserve would prefer asset purchases and forward guidance.