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Posted inHealth

Medicaid clients, seniors, health care providers face cuts under governor’s plan

About 34,000 parents would lose Medicaid coverage. Seniors would have to pay more for home care. The state would abandon a plan to better coordinate care for the costliest Medicaid clients and most health care providers that treat Medicaid patients would face a pay cut. It is all part of Gov. Dannel P. Malloy’s aim to save hundreds of millions of dollars through cuts to health care and social service programs.

Posted inMoney, Politics

The Malloy solution: Deep cuts, new tax revenue, deferred promises

The biennial budget Gov. Dannel P. Malloy intends to propose today would erase a two-year, $2.5 billion shortfall with $1.6 billion in spending cuts and $900 million in additional revenue, an attempt to say he is equitably spreading pain while keeping a pledge not to raise taxes. Malloy, a Democrat re-elected last fall, is proposing a three-pronged approach to his second fiscal crisis in four years: deep spending cuts, combined with additional revenue raised by deferring promised tax cuts and boosting tax receipts without changing rates.

Posted inMoney

UConn think tank predicts state’s economy will flourish in 2015

After growing modestly over the past three years, the state’s economy is ready to shift into high gear in 2015, according to a report Wednesday from the University of Connecticut’s economic think tank. And while the director of the Connecticut Center for Economic Analysis says the 8.1 percent growth projected for 2015 probably is too good to be true, achieving even most of that would allow the state to far outstrip the national economy.