Plummeting state income tax collections reached their worst decline Thursday since the last recession, falling $450 million below anticipated levels for April — one-and-a-half times the free fall projected just one day ago.
As legislators learned state finances could run $4.7 billion in deficit over the next two fiscal years, one panel unanimously endorsed close to $50 million in small tax cuts by 2018 — and more gradual repeal of a $550 million tax on hospitals.
Republican legislators unveiled a two-year budget plan that rejected controversial proposals to pass teacher pension costs onto towns and to expose nonprofit hospitals to local taxation. But the GOP plan, which also would eliminate a program to share sales tax receipts with municipalities, is out of balance by more than $1 billion because of recent, massive erosion in state income tax receipts.
WASHINGTON — Despite reports to the contrary, President Donald Trump has not committed to making payments that insurers like Anthem say are needed for them to consider staying in Access Health CT and other state health insurance exchanges.
Connecticut now has a dozen candidates raising money for declared or exploratory campaigns for governor as Comptroller Kevin P. Lembo confirmed Thursday what has been suspected for months and known for weeks: He, too, is interested in running for governor in 2018.
WASHINGTON — Sens. Richard Blumenthal and Chris Murphy on Wednesday joined all of their Senate colleagues on a bus to the White House for a classified briefing on North Korea, but they and other senators from both parties said they left without learning much new. Continue Reading →
WASHINGTON — The new tax plan released by the Trump administration Wednesday, would slash taxes for corporations and eliminate the estate tax, double the standard deduction and reduce the number of tax brackets from seven to three. If ever implemented, it would affect most Connecticut taxpayers. Continue Reading →
The Connecticut General Assembly is proposing to assert greater control over the Connecticut Network, keeping the state-funded public affairs network known as CT-N tightly focused on the legislature’s debates, hearings and press conferences. Continue Reading →
Updated at 6:10 p.m.
Gov. Dannel P. Malloy asked legislative leaders Wednesday to meet with him next week to plan a bipartisan response to state income tax receipts declining by “hundreds of millions of dollars.” Continue Reading →
WASHINGTON — President Donald Trump’s latest executive order threatens newly won protections for an underwater national monument located 150 miles off the coast of Cape Cod. The president ordered a review of “national monuments,” including the New England Coral Canyons and Seamounts area, an ecosystem in the deep waters for the Atlantic Ocean. Continue Reading →
WASHINGTON — The Navy’s plans to boost the number of ships and submarines would cost more than $100 billion a year and pose a challenge to the capacity of the nation’s shipbuilders, especially those building subs like Electric Boat, a new government report said. Continue Reading →
Updated at 3:55 p.m.
The General Assembly’s Appropriations Committee failed to adopt a $41 billion budget proposal Tuesday afternoon as Democrats were unable to hold together a paper-thin majority on the panel. Continue Reading →
Joshua M. Hall, a teachers’ union official and former treasurer of the state Democratic Party, won a special election in Hartford’s 7th House District on the Working Families Party ballot line Tuesday night, defeating two other Democrats. Republican Joe Poletta easily won in Watertown’s 68th House District. Continue Reading →
Connecticut saw a preview Tuesday of what a fiscal deadlock looks like in a closely divided General Assembly: A fragile Democratic majority unable to unite behind a spending plan, and a Republican minority unwilling to step into the void and share responsibility for a budget destined to be poison at the polls in 2018. Continue Reading →