Edition:
India

Karen Pierog

U.S. states cheer April income tax deluge but analysts urge caution

21 May 2019

CHICAGO April, typically a big revenue month for U.S. states that levy personal income taxes, was especially robust this year, making up for subpar collections in prior months, but analysts cautioned the tax surge underscores how state budgets face greater volatility from federal tax law changes and the stock market.

Illinois governor eyes $41.5 billion plan to rebuild state's infrastructure

18 May 2019

CHICAGO Illinois would spend $41.5 billion over six years to rebuild roads, bridges, schools and other facilities that have fallen into "dire shape," under a preliminary plan floated by Governor J.B. Pritzker on Friday.

Illinois governor eyes $41.5 billion plan to rebuild state's infrastructure

18 May 2019

CHICAGO, May 17 Illinois would spend $41.5 billion over six years to rebuild roads, bridges, schools and other facilities that have fallen into "dire shape," under a preliminary plan floated by Governor J.B. Pritzker on Friday.

Chicago mayor-elect says city's fiscal gap worse than $700 million

17 May 2019

CHICAGO, May 17 Lori Lightfoot, Chicago's incoming mayor, said on Friday that the shortfall in the next city budget is worse than an estimate made this week by the current administration that topped $700 million.

Rating analysts weigh in on Illinois' improved pension payment outlook

09 May 2019

CHICAGO Illinois Governor J.B. Pritzker's announcement on Tuesday that a higher revenue forecast will put off a controversial plan to decrease fiscal 2020 pension contributions could be a positive step for the financially shaky state, Wall Street credit rating analysts said on Wednesday.

Puerto Rico oversight board sues over bond payment pledge

04 May 2019

May 3 Puerto Rico's longstanding pledge to pay off about $13 billion of outstanding general obligation (GO) bonds is just an unsecured promise, according to the latest lawsuits brought by the bankrupt U.S. commonwealth's federally created financial oversight board.

Wisconsin governor says he wants to renegotiate Foxconn contract

18 Apr 2019

Wisconsin's governor said on Wednesday he wants to renegotiate the state's contract with Foxconn Technology Group for investment incentives because the Taiwanese company is not expected to reach its job creation goals for the state.

Wisconsin governor says wants to renegotiate Foxconn contract

18 Apr 2019

April 17 Wisconsin's governor said on Wednesday he wants to renegotiate the state's contract with Foxconn Technology Group Ltd because the Taiwanese company is not expected to reach its job creation goals for the state.

Chicago makes history electing Lori Lightfoot as first black woman mayor

03 Apr 2019

CHICAGO Lori Lightfoot, a political newcomer, was elected the first black female mayor of Chicago on Tuesday, defeating opponent Toni Preckwinkle by a landslide in a runoff to take over a city struggling with crime and weak finances. | Video

Court ruling in Puerto Rico bankruptcy fans revenue bond fears

29 Mar 2019

CHICAGO A decision this week by a U.S. Appeals Court in a lawsuit related to Puerto Rico's bankruptcy raises concerns over the payment of municipal bonds backed by specific revenues during future Chapter 9 cases, Fitch Ratings said on Thursday.

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