Edition:
United States

Dave McKinney

Audits show lax oversight by Wisconsin agency counting Foxconn jobs

Aug 11 2017

CHICAGO The Wisconsin agency tasked with holding Foxconn accountable for delivering up to 13,000 jobs in exchange for $1.5 billion in state payroll tax credits has a history of failing to verify job-creation claims and rewarding companies that fall short of quotas, according to state audits.

Needy Illinois schools face anxiety over looming state aid cutoff

Aug 02 2017

CHICAGO Illinois’ most financially distressed school districts appear capable of opening on schedule this month, but some may face shutdowns in September and possible bond-rating downgrades if $6.7 billion in state education funding remains frozen by a new round of political deadlock.

Illinois governor rejects school funding legislation

Aug 01 2017

CHICAGO Illinois Governor Bruce Rauner on Tuesday blocked hundreds of millions of new state dollars from going to cash-strapped Chicago Public Schools (CPS) by rewriting parts of a state school-funding overhaul bill, potentially imperiling the entire legislation and the flow of state money to all school districts.

Big financial woes linger in Illinois' new budget

Jul 10 2017

CHICAGO Illinois' first budget after two years is filled with partial outlines to address its debt-ridden pension system and unpaid bill backlog -- signs that political fighting and the fiscal mess in the nation's fifth-largest state are far from over.

Contentious end to Illinois budget impasse turns threatening

Jul 07 2017

CHICAGO A rage-filled electorate lashed out at Illinois’ public officials as a two-year fiscal impasse ended on Thursday with a tense security lockdown of its Capitol and fallout from a death threat against a state legislator.

Illinois lawmakers override vetoes to enact first budget in two years

Jul 06 2017

CHICAGO Illinois ended its historic budget drought on Thursday after the House of Representatives enacted the state's first complete spending plan since 2015 by overriding the governor's vetoes.

Illinois risks rating cut to junk even with budget: Moody's

Jul 05 2017

CHICAGO Even if Illinois' House of Representatives takes action to enact a new budget on Thursday, the state still risks a downgrade in its credit rating to junk, Moody's Investors Service warned on Wednesday.

Possible Illinois budget fix poses big financial questions

Jul 05 2017

CHICAGO A Democratic plan to end Illinois’ crippling two-year budget stalemate is poised to be enacted by the state House of Representatives on Thursday, but the nearly 2,000-page package leaves gaping financial holes unresolved.

Illinois House sets Thursday budget veto override vote

Jul 05 2017

CHICAGO, July 5 The Illinois House on Thursday will attempt to overturn Governor Bruce Rauner's vetoes of spending and revenue bills and end a two-year budget impasse that threatens to sink the state's credit ratings to junk.

Illinois House to take up governor's budget, tax vetoes

Jul 04 2017

CHICAGO The fate of a spending plan and tax hike aimed at ending Illinois' unprecedented two-year budget impasse moved on Tuesday to the Democratic-controlled House of Representatives, which will seek to enact the legislation by overriding the Republican governor's vetoes.

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