Budget/Economy

Recent Posts

Towns wary of local spending cap as state begins revenue sharing

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Enjoying their first infusion of state sales tax receipts — albeit not as much as promised — Connecticut’s cities and towns remain wary of a revenue-sharing program that comes with a controversial spending cap. Continue Reading →

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Call it corporate welfare or investment, Malloy says it pays off

Gov. Dannel P. Malloy released his economic-development assessment in New Haven.

NEW HAVEN — Gov. Dannel P. Malloy gave an upbeat assessment Tuesday of what Connecticut is getting for the $256.6 million in direct state assistance he’s given to some of the world’s biggest and richest corporations, investments often made in the face of genteel blackmail — the knowledge another governor may be waiting with a competing offer. Continue Reading →

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Malloy releases funds withheld from CT watchdog agencies

Budget director Benjamin Barnes visiting the Capitol press room to report on state revenue forecasts.

Gov. Dannel P. Malloy’s administration relented Friday in its controversial battle to cut the budgets of state government’s autonomous watchdogs — as it has other agencies' budgets — to help balance Connecticut’s finances. Continue Reading →

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Report: State agencies cut overtime costs by $37 million in FY16

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Updated at 3:48 p.m.
After releasing an initial report last month showing significant savings in overtime costs, the legislature’s nonpartisan fiscal analysts announced Tuesday that state agencies spent about $37.1 million less on overtime in the fiscal year that ended in June than in the year before. Continue Reading →

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Temporary reprieve for Old State House amid squabbling

The Old State House in Hartford.

Updated at 6 p.m.
It looks like the Old State House won’t be stripped of its artifacts after all, but the Hartford landmark remains closed to the public while legislators and Gov. Dannel P. Malloy reconsider a budget provision that slashed funding and gave the building to a reluctant new landlord, the Department of Energy and Environmental Protection. Speaker J. Brendan Sharkey says the administration's opposition seems "petulant." Continue Reading →

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Pew report: Half the states trying to promote retirement savings

The Pew Charitable Trust's survey of state legislation filed between 2012 and April 2016. Connecticut's bill creating a state-administered retirement program for private-sector workers was signed into law in May.

Connecticut is not alone in developing new options to assist private-sector workers who lack a retirement plan, according to a recent report from the Pew Charitable Trusts. At least 24 other states have introduced legislation, studied state-sponsored retirement savings programs, or enacted programs to reduce poverty among retirees. Continue Reading →

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