Economy

Fiscally distressed Wayne County, Mich., expects $23 million in fiscal 2016 budget relief from cuts in retiree healthcare benefits that trimmed $850 million from its unfunded liabilities.

In a newspaper column Tuesday, the governor said he would not support budget cuts that could throw universities into financial exigency and close hospitals in order to deal with Louisiana's budget crisis.

Pennsylvania road revenues will over the next 12 years will be $6 billion shy of the $34 billion needed for its long-range plan.

Relieving the congestion on urban highways in Texas will be a continual process that requires additional funding sources, planners say.

Chicago and the major airlines that operate at O’Hare International Airport have agreed to a $1.3 billion plan that paves the way for construction of a new runway that would complete the long-planned parallel reconfiguration of runways.

The Connecticut Bond Commission approved $17.5 million in state funding for the design, engineering and construction of a rail yard on the Metro-North Railroad Danbury branch line in Norwalk.

Rhode Island Gov. Gina Raimondo is scheduled to deliver her annual budget address with jobs, economic development and truck tolls her expected focus.

Voters in Portland, Ore., will decide May 17 on the city's proposed four-year, 10 cent per gallon gasoline tax.

Dallas Area Rapid Transit expects savings of $47 million or about 9% on a $483 million advance refunding of 2008 bonds.

Texas will spend $1.3 billion on 14 highway projects aimed at reducing traffic congestion in five cities.

Unused sick time among Greater Boston transit employees amounts to a perk of up to $49 million, according to a Pioneer Institute report.

Three months after its board approved a five-year, $29 billion capital program request, officials from New York's MTA are still fielding questions about the uncertainty of funding.

Missouri’s transportation chief warned lawmakers that state lacks funds to rebuild aging roads and bridges.

California Controller Betty Yee urged public employee unions to negotiate prefunding of retiree healthcare benefits as her office's latest report identified California's OPEB liability at $74.1 billion.

The Highway Trust Fund will remain solvent through 2020 with a $70 billion general fund transfer but the revenue shortfall won’t go away, CBO said.

The only intermodal freight facility to ever take advantage of a special 11-year-old federal private activity bond program is back for a third round of financing.

Better transparency, among other benefits, drives New York Metropolitan Transportation Authority’s aggressive bond anticipation note strategy, said one official.

New York City and the MTA deserve high marks for coping with the weekend blizzard and coordinating, said resilience financing expert Alan Rubin.

California cuts road and transit project funding by $754 million over five years as fuel sales tax revenues fall in step with pump prices.

Montgomery County, Texas, officials estimate that investors' flight to quality during a severe downturn in the equities and commodities markets helped reduce interest costs on a $112 million bond deal by nearly $27 million.