State Bond Commission

Recent Posts

Malloy promises ‘very austere’ state budget next week

Gov. Dannel P. Malloy takes questions Friday.

Gov. Dannel P. Malloy warned Friday that the spending plan he will offer state legislators next week will be a “very austere” budget with no tax hikes. The Democratic governor, who needs to close a deficit projection topping $500 million in the preliminary budget for 2016-17, also all but ruled out use of the state’s modest emergency reserve. Continue Reading →

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Partisan debate heats up as state’s credit card nears its limit


Gov. Dannel P. Malloy drew criticism this year when he warned Wall Street investors he would boost state government’s effective credit card limit by 40 percent this year. But if the State Bond Commission approves all of the financing Malloy has proposed for next week’s meeting, the governor will have used up 95 percent of his self-imposed credit limit – with five months still to go in the calendar year. Continue Reading →

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Malloy to Wall Street: Expect state borrowing to jump 40 percent this year

Gov. Dannel P. Malloy

Gov. Dannel P. Malloy recently warned Wall Street the state plans to increase borrowing dramatically over the next year. But while Connecticut uses borrowing primarily to finance capital projects, Republican legislative leaders fear the planned spike also signifies that a disturbing trend of borrowing to cover day-to-day expenses will get worse. Continue Reading →

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GOP wants to team up with Democratic treasurer to rein in ‘bond premiums’

State Treasurer Denise L. Nappier

Republican legislative leaders hope they have a key Democratic ally in their fight to reform state budget practices tied to borrowed funds. Both Treasurer Denise L. Nappier, a Hartford Democrat, and nearly a half dozen GOP lawmakers have said they want to restrict how the state uses proceeds from bonds sold at premium rates. Continue Reading →

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