Budgets

Gary is trying to reduce the $8.4 million it owes to the IRS for a tax liability created when it failed to remit taxes withheld from employee paychecks.

The delay will mean reductions to services and may lead to job cuts at the start of the 2018-19 school year.

Council Speaker Corey Johnson spelled out several conditions for such an increase to MTA Chairman Joe Lhota.

The declaration could expedite contracting for repairs at NYCHA units through limited city use of design-build project delivery.

The state of the public school district is vital to encourage young families to move back into the city, he said.

While Gov. Dannel Malloy and lawmakers study recommendations from a state panel, Nuveen warned that the state’s bond rating could plummet further.

As the New York City Council held its first hearing on Mayor de Blasio’s $88.67 billion preliminary budget, "Washington" and "Albany" loomed over the proceedings.

Enrollment pressures are manageable while pension costs should stabilize long-term, Fitch Ratings said.

Michigan's cumbersome process to enact local option taxes still offers cities a revenue option, a report says.

Howard Cure of Evercore and Maria Doulis of the Citizens Budget Commission parse the $88.7 billion preliminary budget, the Washington and Albany effects and problem units Health + Hospitals and NYCHA. Paul Burton hosts.

Guam’s long- and short-term debt was placed on negative credit watch by S&P Global Ratings.

Philadelphia Mayor Jim Kenney’s budget accounts for lower beverage tax projections by borrowing less for planned infrastructure projects.

Pittsburgh, whose bonds were junk in 2003, has become a national model for urban rejuvenation.

Philadelphia Mayor Jim Kenney wants new tax revenue to help the city’s cash-strapped school district erase a massive deficit.

Diminished Washington aid and a pending downturn require prudence, the city's comptroller said.

“We’re getting our ass kicked," the Gov. Dannel Malloy said, pitching a widening of the state's most congested highway.

"We have to find new solutions," said Partnership for New York president Kathryn Wylde.

Officials say the law's ban on advance refundings may cost the city $425 million in savings over four years and that changes in state law are needed to offset the damage from the limit on the state and local tax deduction.

Growing revenue challenges coupled with a “very weak” economy led S&P Global Ratings to drop the city two-notches to BB-plus.

Comptroller Scott Stringer said the budget cushion in Mayor Bill de Blasio’s preliminary fiscal 2019 budget is inadequate to ward off any problems as New York's economic expansion slows.