Financial Crises - Page 3

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.

January 12, 2017

Fixing Detroit: America's comeback city?

America loves a good comeback story. Just maybe, Detroit could be one for the ages.

January 12, 2017

Riding the rails: Millions at stake for Detroit's taxpayer-backed transit experiment

There's a lot riding on Detroit’s new transit system. After seven years of planning, work on the ambitious $140 million light rail project started this week amid charges that it already is an antiquated and ‘expensive boondoggle’ that fails to benefit the city’s low-income residents.

January 12, 2017

States ration birth, marriage, death certificates after paper company suddenly closes

Someone call Dunder Mifflin: Several states are reporting a paper crisis, after an Ohio company that produces highly specialized paper for vital records closed without warning.

January 12, 2017

Dems push for minimum wage increase for tipped workers -- but will it backfire?

Hourly workers who rely on tips for a living are turning to the states in a bid to boost their base pay, as the minimum wage debate stalls in Congress -- though business groups warn the move could backfire.

January 12, 2017

Policing for Profit? Lawmakers, advocates raise alarm at growing gov’t power to seize property

Massachusetts motel owner Russell Caswell wasn’t expecting to find himself at the center of a national controversy when federal authorities came knocking on his door. They said they wanted his business –and the land it was on- and said they could take it legally if they wanted to through a practice known as civil forfeiture. Caswell said no.

August 4, 2016

Missouri governor assigned to be public defender in assault case

The head of Missouri's public defender system said he is appointing Gov. Jay Nixon to handle a case in protest of withheld funding.

July 15, 2016

Illinois staring down $8B deficit, report reveals

The state of Illinois' spending will outstrip what it brings in by nearly $8 billion this year despite a stopgap budget agreement last month, according to a government analysis first obtained Thursday by The Associated Press.

May 2, 2016

Illinois Lottery sales plummet to lowest point of year after payout delays

Illinois Lottery ticket sales dropped to the lowest point yet this year in October, the same month lottery officials announced they were delaying payouts over $600 because of the state budget impasse, according to data obtained Thursday by The Associated Press.

May 2, 2016

Chicago residents face ‘perfect storm’ of tax hikes

Chicago already is one of the most expensive cities in the world. But the cost of living soon could rise even more, if Chicago Mayor Rahm Emanuel gets his way.