Politics

Still no clarity as the banking crisis adds to the difficulty of predicting an economy still feeling COVID impacts and uncertainty about the prospects for a recession.

The Republican-controlled legislature sent the governor a tax cut bill that included replacing the state's three-tier personal income tax structure with a flat 5.15% rate.

A bill to prevent developers from buying bonds issued by their metropolitan districts died, but another measure limiting interest rates in such cases was enacted.

Chicago outgoing mayor offered a parting shot against pending state legislation that stands to add to city pension costs, but sponsors say the fix was promised and is needed to avoid violating federal rules.

The $3.3 billion Transportation Modernization act allows for P3s for roadway development, a first for the state.

"The funds made available to local governments in the American Rescue Plan Act have been a lifeline to our nation's communities," said National League of Cities CEO Clarence Anthony.

The proposed budget would add 400 more police officers and spend $1.3 billion on programs to ease homelessness.

Chicago's fiscal forecast has brightened and near-term surpluses should go to cover supplemental pension contributions and into reserves, Mayor Lori Lightfoot said as she prepares to hand the reins of city government to Mayor-elect Brandon Johnson

"Florida may have the statutory authority to abrogate an agreement, but  what does that say for things going forward?" asks Joseph Krist, publisher of Muni Credit News. "Why couldn't an anti-development administration do the same thing in reverse to somewhere like the Villages?"

It's unrealistic to ask transit agencies, even financially stables ones, to solve larger social problems like homelessness or inequity, says an expert.