Economy

A group of seven Illinois safety-net hospitals last week unveiled several measures they said could trim $1.4 billion from the state’s Medicaid expenses and eliminate the need for the deeper cuts that Gov. Pat Quinn has requested.

SAN FRANCISCO —The projected price tag for California's planned high-speed rail system between San Francisco and Los Angeles has been cut by a third.

Chicago has requested a federal extension until the end of the year to decide whether to attempt to privatize Midway Airport, a move that preserves the city's ability to resurrect a lease deal that could generate several billion dollars in up-front cash.

The Port Authority of New York and New Jersey is scheduled to auction $400 million of its consolidated bonds on Wednesday.

CHICAGO — The Michigan Senate last week advanced a measure to divert a piece of the state's fuel sales tax to finance transportation infrastructure projects, part of an effort to raise more money for the depleted roads fund.

WASHINGTON — A coalition of state departments of transportation have banded together to urge the House Republican leadership to avoid including any language in a transportation bill that would remove "important optional financing tools" for some public-private partnerships.

New York's Metropolitan Transportation Authority has purchased 300 new rail cars for $600 million.

The Port Authority of New York and New Jersey voted Thursday to cut compensation and benefits for non-union employees, saving an estimated $41 million over the next 18 months.

The Port Authority of New York and New Jersey submitted a request to federal officials that its Bayonne Bridge "Raise the Roadway" project be considered for expedited review under President Obama's executive order on permitting and federal review.

WASHINGTON — Congress approved a 90-day extension of federal highway funding Thursday, capping a week filled with wild legislative twists and turns that led House Republican leaders to pull shorter-term bills from the floor three days in a row when it was clear they wouldn't be approved.

Honolulu’s plans to build a 20-mile elevated rail system appear to be clearing funding hurdles despite staunch opposition from mayoral candidate and former governor Ben Cayetano.

The Alaska Railroad faces a big budget cut from the U.S. Senate that could potentially put railroad bonds in jeopardy, news reports say.

Alaska’s Knik Arm bridge project has run into hurdles in the Legislature over $150 million of early funding for the controversial public-private toll crossing.

The Lafayette Metropolitan Expressway Commission will study whether tolls on a six-mile stretch of Interstate 49 will support construction of the portion of the highway in Lafayette.

Completing Interstate 49 through a public-private partnership is one of the five state goals that were outlined last week by Louisiana Treasurer John Kennedy.

CHICAGO — The Mayo Clinic took retail orders Tuesday on $200 million of revenue bonds and will open the sale to institutional buyers Wednesday as it finances various capital projects, including a new proton beam therapy center at its flagship campus in Rochester, Minn.

DALLAS — A $500 million general obligation bond package going to Dallas voters this fall will do little to whittle down the city's $4.4 billion of needed street repairs and reconstruction.

Moody’s Investors Service raised its rating to Baa1 from Baa2 on Wheaton Franciscan Services in recognition of several years of improved operations at the Wisconsin hospital and the strong results expected this year.

Alabama Gov. Robert Bentley is seeking transportation proposals that will be funded with the first round of financing from $600 million to $650 million of grant anticipation revenue vehicle bonds the state intends to sell.

CHICAGO — Bids to buy the assets of an upscale continuing-care retirement community in downtown Chicago are due by April 10, with holders of its $229 million of debt hoping for a competitive auction that results in a better recovery rate than the pennies on the dollar offered by an initial bidder.