The outlook for the state’s finances remains “generally positive” one-third of the way into the new fiscal year, Comptroller Kevin P. Lembo reported Friday. In his latest monthly budget forecast, Connecticut’s chief fiscal watchdog projected a modest, $11.2 million surplus for the fiscal year that ends next June 30. That represents just 1/15th of 1 […]
Keith M. Phaneuf
Keith has spent most of his four decades as a reporter specializing in state government finances, analyzing such topics as income tax equity, waste in government and the complex funding systems behind Connecticut’s transportation and social services networks. He has been the state finances reporter at CT Mirror since it launched in 2010. Prior to joining CT Mirror Keith was State Capitol bureau chief for The Journal Inquirer of Manchester, a reporter for the Day of New London, and a former contributing writer to The New York Times. Keith is a graduate of and a former journalism instructor at the University of Connecticut.
Connecticut’s cash flow is better after $900 million loan
The state no longer needs the emergency credit line set up last winter to ensure it can pay its bills on time. But whether that means Connecticut’s finances are any better off was a matter of debate Thursday at the Capitol. One of the main reasons the state’s coffers are flush with cash is because […]
CT lawmakers eye NY’s “Texting Zone” strategy for highway safety
Ever feel the urge to text while driving? If that happens in New York, look around. There’s probably a sign nearby showing where the next safe “Texting Zone” is located. New York officials have captured some of their Connecticut counterparts’ attention with their new campaign to stop cellphone use on highways. Earlier this fall the […]
Don’t count on CT car tax repeal vote in next legislative session
Though 2014 is a state election year, don’t count on any votes at the Capitol to repeal Connecticut’s controversial tax on motor vehicles. After watching last year’s repeal bid arise unexpectedly — then quickly run out of gas — advocates are ready to take the slow-but-steady route the second time around. And for a state […]
Auditors cite ‘excessive’ spending at UConn Health Center
The state auditors’ office outlined a series of “excessive” spending practices Wednesday at the UConn Health Center involving professional development, compensatory time, retirement benefits and specialized legal fees topping $800 per hour.
Connecticut launches mortgage assistance forum; braces for prolonged shutdown
Homeowners falling behind on payments or facing foreclosure will have a shot at getting some needed relief when state officials host their sixth mortgage assistance event next week. As they continue to juggle finances in response to the federal government shutdown, Gov. Dannel P. Malloy, Attorney General George Jepsen and Banking Commissioner Howard F. Pitkin announced […]
The Debt Ceiling: What it is, and why Connecticut should care
Economists agree that failure to lift the nation’s debt ceiling would be disastrous. Should Congress and President Obama fail to reach an agreement by Thursday — the deadline when the government contends it would run out of money — it reportedly would send economic shockwaves around the world. But what exactly is the debt ceiling, […]
Shutdown clock is ticking on Connecticut’s small businesses
After dreaming for years about opening a ceramics studio, Lucy and Anthony Hernandez of Rocky Hill were closing in on their goal when they learned of the threat of a federal government shutdown. The Hernandezes managed beat the shutdown deadline, but other small businesses with cash flow problems, equipment needs or expansion plans must wait […]
Lembo hopes RI example will lead CT to disclose corporate aid
Though Connecticut officials balked at creating a publicly searchable database to track corporate welfare, its chief advocate is hoping an example from across the state line will change minds here. Rhode Island’s Division of Taxation released a late summer report that showed 87 percent of all funds awarded through the state’s six major tax incentive […]
CT’s bond rating: Sign of the times or same old news?
Republican gubernatorial contenders seized on a cautionary note from a bond rating agency this week about Connecticut’s credit card, calling it Wall Street’s response to new criticisms of the state’s finances. The problem, though, is the note released by Fitch Ratings Service isn’t new.
CT officials renew call for probe after NU confirms plans to outsource IT jobs
State officials renewed their call for a review of Northeast Utilities operations after company officials confirmed plans Tuesday to outsource about half of its 400 information technology jobs. But a company spokeswoman also said about 40 of the 200 affected workers likely would be rehired by branches in the northeastern U.S. of the two India-based companies […]
Federal shutdown, health care costs and shrinking sales tax loom over CT budget
State government’s finances are in balance early into the fiscal year — for now. But the state’s chief fiscal watchdog warned Tuesday that the federal government shutdown, continued strong demand for health care for the poor and declining sales tax receipts, could erase the budget’s black ink very quickly. Technically Kevin Lembo, the state comptroller, […]
Bond panel OK’s financing for Bridgeport development
The State Bond Commission approved $31 million in financing Friday to allow leading sporting goods retailer to locate in the long-planned commercial development on Steel Point in Bridgeport. And though the commission unanimously approved the financing for Bass Pro Shops, that endorsement came amidst an ongoing partisan debate over Gov. Dannel P. Malloy’s handling of […]
Malloy suspends routine highway work to ease traffic crunch along Metro-North corridor
Gov. Dannel P. Malloy ordered the state Department of Transportation on Thursday to halt all routine road maintenance work in lower Fairfield County to ease traffic congestion. Vehicular traffic was expected to rise sharply after Wednesday’s power failure on the Metro-North rail line knocked out most service between Stamford and New York City for at least three weeks.
Lawmakers press Northeast Utilities to address rumors of job cuts
More than a dozen state legislators are pressing New England’s largest utility to detail immediately any plans to reduce staff as part of an ongoing merger. House Majority Leader Joseph Aresimowicz, D-Berlin, also insisted that Northeast Utilities respond to rumors that some information technology work would be outsourced to other countries. But NU responded Thursday […]

