Budget/Economy

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CT gains jobs in October but unemployment rate remains fixed

Connecticut’s jobless rate remained fixed at 6.4 percent in October, despite the addition of about 3,600 new jobs, the state Department of Labor reported Thursday. The agency’s latest report also downgraded job growth estimates it had released two weeks before Election Day.
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Malloy: Tax breaks likely for consumers, teachers, poor — maybe not business

Gov. Dannel P. Malloy answers questions from reporters after a state Bond Commission meeting Wednesday. At right is Lt. Gov. Nancy Wyman.

Despite the likelihood of deep spending cuts in Gov. Dannel P. Malloy’s next budget, the prospects of tax relief for consumers, retired teachers and the working poor are good. But for Connecticut’s businesses – not so much. Continue Reading →

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Are CT cities and towns no longer immune from state budget axe?

Gov. Dannell P. Malloy

Gov. Dannel P. Malloy spared cities and towns from the state budget axe as he grappled with deficits for much of the past four years. But with sales tax receipts promised long ago to municipalities still lying in the state’s coffers, GOP legislative leaders are worried the Democratic governor’s days of sparing local taxpayers are over.
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Budget chief: Some tax cuts may have to wait; CT colleges likely to face cuts

State budget director Benjamin Barnes talks with reporters Monday.

Gov. Dannel P. Malloy’s budget director acknowledged Monday there's little likelihood all of the tax relief promised on the campaign trail can be provided in the next state budget, which faces a major deficit projection. And while the governor promised new tax relief for college graduates struggling with student loan debt, budget director Benjamin Barnes said Connecticut’s public colleges and universities probably won’t be spared emergency budget cuts due out this week. Continue Reading →

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Malloy doubts CT public has appetite for expanded gaming

Gov. Dannel P. Malloy

Gov. Dannel P. Malloy didn’t take a position early Monday on the prospect of expanded casino gaming in Connecticut, though he did predict the preliminary proposal offered by the Mohegan tribe would not go forward at this time. The governor said if the state’s recent dalliance with keno showed anything, it’s that Connecticut isn’t looking to expand gaming. Continue Reading →

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It’s official: CT’s budget is $89 million to $100 million in the red

Gov. Dannel P. Malloy with his budget chief Benjamin Barnes

The state budget received its first official deficit reports Friday when nonpartisan legislative analysts and Gov. Dannel P. Malloy's administration projected shortfalls ranging from $89 million to just under $100 million. Budget director Benjamin Barnes, insisted it quickly would be closed, and reasserted Malloy's insistence that tax hikes are not an option. (File photo: Gov. Malloy and budget director Barnes) Continue Reading →

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