Budgets

Chicago's City Council deferred a vote on a $1.5 billion bond measure.

The proposed sale size has grown to $1.5 billion and the city claims it will bring $90 million in savings this year.

The Chicago Board of Education adopted a nonbinding resolution declaring a moratorium on school closures during a heated public meeting on Thursday.

A negative outlook for the city's AA rating by Fitch Ratings follows similar action taken by S&P Global Ratings in July.

Chicago released a budget forecast that its corporate fund deficit will grow to $982.4 million in 2025 from $222.9 million at 2024's end.

The July 31 arrest of Eduardo Ramos, who submitted his resignation July 23, was not related to his job, according to the school system.

The mayor and controller debated the causes for the rating outlook revision to negative from stable ahead of a July city bond sale.

The city will return to the market two weeks after closing its Transitional Finance Authority's biggest-ever deal.

The Chicago Public Schools board unanimously approved the district's 2025 budget Thursday, a day after the Civic Federation warned it is a "temporary solution."

The legislature dodged broad changes to education or transit, but bet big on business-friendly initiatives.