Financial Crises - Page 2

February 7, 2018

Post-bankruptcy California city tests ‘universal’ income for residents

A California city plagued by financial woes is testing a new welfare plan to give families a “universal basic income” of $500 every month.

October 4, 2017

Trump on Puerto Rico's debt: 'We're going to have to wipe that out'

President Trump told Fox News Tuesday that "you can say goodbye" to Puerto Rico's debt as the island struggles to recover from the devastation left by Hurricane Maria.

September 27, 2017

Illinois State Capitol locked down over powdered substance in governor's office

The Illinois State Capitol was placed on lockdown for approximately two hours Thursday after a woman scattered a powdered substance in several locations in the building — including Gov. Bruce Rauner's office, officials said.

September 27, 2017

Illinois House of Representatives overrides gov's veto of $36B budget

The Illinois House of Representatives voted Thursday to override Gov. Bruce Rauner's vetoes of a budget package, giving Illinois its first annual spending plan since 2015.

September 27, 2017

How states can buck Washington gridlock and take the lead on transformative, bipartisan reform

As Washington stumbles over ObamaCare repeal and delays tax reform—and while seemingly endless scandals monopolize headlines—it’s all too easy to lose hope that transformative policy change is possible.

July 4, 2017

Illinois Senate overrides governor's tax hike veto

The Illinois Senate voted to override Gov. Bruce Rauner's vetoes of a $36 billion budget package Tuesday, including a $5 billion tax increase designed to start digging out of the nation's longest budget crisis since at least the Great Depression.

July 4, 2017

Illinois Senate OKs tax increase; Gov. Rauner has vowed veto

The Illinois Senate approved an income tax increase Tuesday to raise $5 billion a year aimed at ending the nation's longest state budget crisis since at least the Great Depression.

July 3, 2017

Christie pic furor is just the beginning: States enter summer of budget pain

A photograph of New Jersey Gov. Chris Christie sunbathing Sunday on a state beach he closed amid a budget standoff drew national attention to the state’s financial woes, but it was a mere snapshot of the budget battles being waged across the country.

July 3, 2017

Chris Christie: Cameras catch NJ gov lounging on closed beach during budget impasse

Chris Christie enjoyed his own private beach on Sunday by soaking up the sun on a waterfront Jersey Shore park that was closed to the public because of a budget standoff between the governor and legislators in Trenton.

June 30, 2017

Illinois budget passes test run, but deadline will be missed

A $36.5 billion foundation for rebuilding Illinois' crumbling finances passed a critical test on Friday, but a powerful legislative leader said no deal would be reached before a critical midnight deadline -- meaning Illinois will enter its third consecutive fiscal year without a budget.