Budgets

States face slowing revenue growth and increasing spending pressures, the National Association of State Budget Officers said in its Fiscal Survey of States.

The $6.3 billion all-funds budget was amended in the wake of the Nov. 4 defeat of a property tax rate increase that would have raised $109.5 million in revenue.

Chicago Mayor Brandon Johnson is seeking City Council approval of $1.8 billion in new money general obligation bonds and $2 billion in refunding authority.

Chicago homeowners face a record property tax hike after the city's downtown office buildings and other commercial real estate values fell again.

The city said it needed the money to be able to make payroll in November and December.

S&P revised Chicago's outlook to negative from stable and affirmed its BBB rating on the city's outstanding general obligation debt.

Louisiana State Treasurer John Fleming indicated he is open to compromise on the nature of state oversight for the city, which may have trouble making payroll.

City Manager Oliver Chi unveiled a plan to invest $60 million to change the city's current trajectory.

The city said it will take a wide range of measures to try to get through November and December without running out of money.

Chicago Public Schools went to market this week with nearly $1.1 billion of refunding bonds in the largest municipal transaction the district ever completed.

The city comptroller says Buffalo's finances are in dire shape, and is fighting in court not to issue debt authorized by the mayor and city council.

Mayor Brandon Johnson released to City Council a report from accounting firm Ernst & Young with recommendations for closing the city's structural budget gap.

The city council president is concerned about state bond commission approval.

The Cleveland City Council will decide whether to approve a deal struck by Mayor Justin Bibb with Haslam Sports Group, owners of the NFL's Cleveland Browns.

Brandon Johnson released his $16.6 billion 2026 budget last week. The budget calls for new revenue sources, but avoids property tax hikes.

Cities are responding to a state directive to remove symbols on crosswalks and other so-called distractions or risk losing state and federal funding.

The county agreed to pay an additional $828 million to victims of childhood sexual abuse who sued under a 2019 state law that raised the statute of limitations for such cases.

Metra announced fare hikes in its 2026 budget, part of a broader regional policy requiring the Chicago Transit Authority, Metra and Pace to raise fares.

The city council took action to keep the property tax rate unchanged, a move that could punch a $53 million hole in the fiscal 2026 budget and drain reserves.

Legislators and transit groups are pushing to get transit reform across the finish line this month, lawmakers and stakeholders said Friday.