State of Illinois

School districts and the Chicago Civic Federation slammed Gov. Bruce Rauner's budget plan Wednesday.

The flat state income tax rate is embedded in the state constitution.

Municipal bonds were stronger on Monday as supply-starved investors awaited the week's planned $4.9 billion of new paper.

The municipal bond market will see another moderate new issue calendar this week, with about $4.9 billion of offerings going up for sale

Another low volume week is on top, but the scarcity value is driving demand as the market continues to be strong in the face of rising interest rates.

The municipal bond market will see another light new issue calendar next week with volume estimated at $4.86 billion.

Illinois paid more to borrow in Wednesday's bond sale compared to last year, though yields narrowed from recent trading levels.

Municipal bonds were weaker Tuesday as Illinois sold $500 million of bonds and the N.Y.&N.J. Port Authority deal was priced.

The recent performance of munis has reset relative valuations to more attractive levels, according to BlackRock's Peter Hayes.

The payment of interest penalties lags as Illinois works to repay its mountain of bills.

Solving the state's pension crisis will require politically painful options for taxpayers and public employees.

Municipal bonds finished weaker on Monday ahead of a what will be an busy Tuesday with a few billion of new issuance hitting the market.

Officials want to cast the state's fiscal health in a more positive light even as offering documents lay out a starker assessment.

Pushing off painful decisions tanked Illinois' ratings while California reaped spread and rating benefits from better choices.

With tax season in the rear view mirror, supply is set to rise to $7.8 billion as demand rebounds.

Next week's $7.8 billion new issue slate features airport and water deals coming from New York and Texas issuers.

Municipal bonds held were firm ahead of California's $2.2 billion taxable offering, which is being marketed to international investors.

Muni performance is looking good this month, as California gets set to sell $2.2 billion of taxable general obligation bonds.

Municipal market volume will rise by two-thirds to $7.45 billion in the coming week, led by a $2 billion taxable deal from California.

Illinois spreads are rising as the state plots its first sale of 2018 for May.