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Karen Pierog

Puerto Rico oversight board defends plan as way out of bankruptcy

18 Jun 2019

Puerto Rico's federally created financial oversight board on Monday defended a new agreement with creditors, saying it will result in an affordable and sustainable debt level and allow the U.S. commonwealth to exit bankruptcy next year.

Puerto Rico oversight board reaches deal over retiree pensions

13 Jun 2019

SAN JUAN Puerto Rico's federally created financial oversight board said on Wednesday it reached a deal to restructure more than $50 billion in unfunded pension liabilities that includes cuts for some of the bankrupt U.S. commonwealth's retired government workers.

Credit analysts cautious over Illinois budget, infrastructure plan

03 Jun 2019

CHICAGO Some results from Illinois' action-packed spring legislation session that produced a budget and a variety of revenue-raising measures won initial praise on Monday from credit rating analysts, who cautioned that fiscal challenges remain.

Illinois lawmakers vote to allow sports betting, approve Chicago casino

03 Jun 2019

CHICAGO A major gambling expansion in Illinois that will give Chicago its first casino, allow betting on sports and raise money for a massive infrastructure program won final approval on Sunday in the state legislature.

Illinois bill to legalize recreational marijuana wins legislative approval

01 Jun 2019

CHICAGO Illinois will become the 11th U.S. state to legalize the recreational use of marijuana for adults under a bill that won final passage in the state legislature on Friday.

Illinois bill to legalize recreational marijuana wins legislative approval

31 May 2019

CHICAGO Illinois will become the 11th U.S. state to legalize the recreational use of marijuana for adults under a bill that won final passage in the state legislature on Friday.

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

17 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.

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