Budgets

Analysts warn the many one-time measures in the budget Mayor Brandon Johnson narrowly got through City Council will make the 2026 budget even harder.

A report the by the city administrative officer about the city's looming deficit underscores challenges facing Los Angeles Mayor Karen Bass.

S&P Global Ratings released a report this week warning that the credit trajectory of the Chicago Board of Education will hinge on several contested factors.

Chicago plans to bring to market $806 million of bonds on Thursday, a refinancing deal that will help close its fiscal 2024 budget gap.

Sen. Jodi Ernst, R-Iowa, who will chair a Department of Government Efficiency Senate caucus next year, wants to kill federal support for the California high-speed train.

S&P Global Ratings placed Chicago's general obligation bond rating on watch negative Tuesday, warning against heavy reliance on one-time budget solutions.

The Chicago City Council delivered a strong rebuke of Mayor Brandon Johnson's fiscal 2025 budget on Thursday, rejecting a $300 million property tax increase.

The board has put out fourteen questions on its fee setting process and will be accepting responses until January 31.

Chicago Mayor Brandon Johnson on Wednesday proposed a $17.3 billion fiscal year 2025 budget that calls for a $300 million property tax increase, but does not touch pension funding levels.

As federal funding dries up, cites are searching for new funding sources.

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.