Budget/Economy

Recent Posts

Senate passes retirement security bill, but it might not be the final word

This is a picture of Sen. Ed Gomes

The Senate narrowly gave final passage Saturday to a controversial proposal that would require certain private-sector employers to automatically enroll workers in retirement savings plans overseen by a new quasi-public authority. But while the bill has passed both the House and Senate, it could still undergo changes. Continue Reading →

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CT budget talks remain gridlocked as pols jab via Twitter

House Speaker J. Brendan Sharkey's tweet on the final Saturday of the legislative session captured the mood between his caucus and the governor.

State budget talks continued to stall Saturday as Gov. Dannel P. Malloy’s administration and Democratic legislative leaders remained at odds over how to resolve a nearly $1 billion shortfall in the fiscal year that begins July 1. And though talks — which bogged down late Friday — remained in limbo, Democratic legislative leaders insisted they are ready to resume talks with the governor at any time.
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Advocates argue budget threatens CT’s right-to-know agency

Thomas A. Hennick

Both the state Freedom of Information Commission and the state's leading right-to-know advocacy group warned Friday that a proposed 20 percent budget cut for the commission — and the possible transfer of its public information officer into Gov. Dannel P. Malloy’s office — could greatly weaken state government transparency. Continue Reading →

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CT counts on future legal settlements to mitigate eroding income tax receipts

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

Despite rapidly eroding state income tax receipts, analysts for Gov. Dannel P. Malloy’s administration and the legislature are counting on payments from future legal settlements and other sources to mitigate much of the likely tax revenue loss next fiscal year. Continue Reading →

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Legislators send Malloy an invitation and a proposed fiscal plan

House Speaker J. Brendan Sharkey and Senate President Pro Tem Martin Looney discuss the Democrats' budget proposal.

A week after suspending budget talks with the administration, the Democratic leaders of the General Assembly offered an olive branch and a proposal for a new fiscal plan Thursday to Gov. Dannel P. Malloy. Continue Reading →

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CT’s maxed-out credit card takes its toll on many projects

Gampel Pavilion at UConn

The General Assembly is expected to vote before it adjourns May 4 on a plan that would cancel more than $1.1 billion in financing earmarked for an enormous array of purposes in both the public and private sectors, including renovating the leaking, flaking dome of UConn's Gampel Pavilion. Continue Reading →

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Volatile income tax receipts complicate effort to craft CT budget

This is a picture of Sen. Beth Bye

Unstable tax receipts are threatening to dash Democratic legislators’ hopes of adopting a new state budget this week. By midday Tuesday, earlier indications that income tax receipts might be on the rise — based on very preliminary data after the April 18 filing deadline – had evaporated.
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GOP budget plan: Slash agency budgets, cut bonding drastically

Senate Minority Leader Len Fasano and House Minority Leader Themis Klarides, surrounded by GOP legislators, explain details of the party's proposed budget

Leaders insist their blueprint would close massive future deficits without tax hikes. To do that, though, the GOP minorities in the House and Senate would dilute the two big initiatives Gov. Dannel P. Malloy and the Democratic majority launched last June: a 30-year investment in transportation and a plan to share sales tax receipts with cities and towns. Continue Reading →

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Budget crisis follows Malloy into Clinton campaign event

Nelba Marquez-Greene

Gov. Dannel P. Malloy was reminded Thursday there is no escaping the budget crisis, not even at a presidential campaign event: A Sandy Hook mother gently called him out in front of Hillary Clinton and the national press for cuts he is making to mental health and social services. Continue Reading →

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