Budgets

Chicago's City Council on Wednesday approved the sale of $830 million of general obligation bonds that Mayor Brandon Johnson says will fund infrastructure improvements.

The Federal government's long-term budget challenges could mean dramatic changes for hospitals and health systems nationwide, derailing the post-COVID credit recovery that helped turn the healthcare sector into the fastest-growing segment of the municipal market in 2024.

Washington's threats to state and local government funding took center stage when Illinois Gov. JB Pritzker delivered his seventh budget.

The study comes as the city faces a growing structural budget deficit and shrinking reserves that led to negative bond rating outlooks.

Gloria's pointed comments about the county's responsibility caused a stir in the days since he delivered the speech, which sets the table for budget talks in coming months.

Chicago plans to sell roughly $830 million of general obligation bonds to finance its 2024-28 capital improvement plan, according to the city's finance team.

New York Mayor Eric Adams, bolstered by lower-than-forecast spending on migrants, proposed a $114.5 billion budget for the fiscal year that begins July 1.

S&P Global Ratings downgraded Chicago's general obligation debt to BBB from BBB-plus, saying the 2025 budget fails to address a structural imbalance.

Brad Lander, the city comptroller, tallied the potential Trump administration threats to the city's federal funding, from infrastructure to hospitals.

The CFO's revenue estimate reveals a $169 million temporary boost and overall population growth while concerns arise over proposed cuts to the federal workforce.