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Financial Crises December 20, 2015

Lights, cameras, tax breaks! PA House OKs more subsidies for Hollywood

Pennsylvania lawmakers will soon be racing to fill a budget deficit that could top $1 billion in the next fiscal year, but there鈥檚 still a glimmer of hope the financial news won鈥檛 be all bad, at least if you鈥檙e M. Night Shyamalan or another Hollywood filmmaker that likes to shoot movies in the Keystone State.

Financial Crises December 20, 2015

Illinois Dems back off $100 million push for Obama library following outrage

Illinois Democrats are backing off a plan to give $100 million of state money toward landing President Obama鈥檚 presidential library and museum -- following accusations of voting 鈥渟henanigans鈥� and nasty Chicago-style politics, not to mention the state鈥檚 dire financial situation.

Financial Crises December 20, 2015

Cash-strapped Illinois gov't eyes Chicago casino as revenue jackpot

When you're hungry, even a three-day-old banana and sardine sandwich looks good. And when you are as broke as Illinois, the promise of billions of dollars from a Chicago casino looks amazing.

Financial Crises December 20, 2015

Detroit strikes two deals over pensions with police, firefighters, other former employees

The city of Detroit reached tentative agreements to preserve pensions for retired police office and firefighters but cut monthly payments for other former employees, key deals that could accelerate the largest public bankruptcy in U.S. history, officials said Tuesday.

Financial Crises December 20, 2015

Illinois Gov. Quinn wants to make 鈥榯emporary鈥� tax increases permanent

Illinois Gov. Pat Quinn is telling taxpayers he cannot lie -- he plans to keep Illinois' "temporary" income tax increases.

Financial Crises December 20, 2015

Detroit spends more to issue parking fines than it collects

Restructuring consultants have recommended that Detroit increase its parking fines and crack down harder on people who don't pay to boost revenue for the bankrupt city, which currently pays $32 to issue and process a $30 parking violation.

Financial Crises December 20, 2015

Study of pension reform costing Pennsylvania taxpayers more than $1 million

As Pennsylvania lawmakers continue to debate pension reform, the meter is running.

Financial Crises December 20, 2015

Unlucky winners: Illinois lottery halts payouts of over $600 over state budget deadlock

Feeling like you've hit the jackpot through the Illinois Lottery? Well, think again.

Financial Crises December 20, 2015

Chicago sued over 'amusement tax' on streaming services Netflix, Spotify

A group of Chicago residents is suing the city for allegedly trying to sneak in a 9 percent tax on streaming services like Netflix, Spotify and Amazon Prime.

Financial Crises December 20, 2015

Kansas to cap welfare ATM withdrawals at $25 per day

Kansas is bleeding money. Lawmakers in the Sunflower State have been scrambling for years to make up a $400 million revenue gap following a 2012 income tax cut that left deep holes in the state budget.

Financial Crises December 20, 2015

California Dems push to repeal 'welfare queen' law

California Democrats are trying to reverse a decades-old state law that bars families from getting extra welfare money for having an additional child, describing the law as "sexist" and "classist" -- despite concerns that repealing it could compound the state's money woes.