Gov. M. Jodi Rell pledged Wednesday to offer a new plan to help balance the next state budget by selling close to $1.8 billion in future revenues at a discount in exchange for $1.3 billion now. And this plan, according to the governor, would be one she would sign into law. That distinction is important […]

Just 2½ months before the end of the fiscal year, Gov. M. Jodi Rell and the state legislature agreed Wednesday on a plan to eliminate nearly 90 percent of the projected $371 million deficit without tax hikes or major reductions in municipal aid. The plan cuts million of dollars from social services, health care and […]

The state closed in on its first balanced budget in two years Tuesday as the House of Representatives approved a measure to eliminate nearly 90 percent of this fiscal year’s $371 million shortfall. The measure, which relies on a combination of spending cuts, additional federal revenue and raids on special accounts and trust funds  to […]

Gov. M. Jodi Rell signed a bill late this afternoon that eliminates nearly 90 percent of this fiscal year’s $371 million budget deficit. Rell’s signature came about 30 minutes after the Senate unanimously adopted the compromise measure. The House of Representatives adopted it 147-1 on Tuesday. federal revenue and raids on special accounts and trust […]

The state House of Representatives stood poised this afternoon to adopt a plan to eliminate most of the $371 million deficit projected for this fiscal year. Speaker Christopher G. Donovan, D-Meriden, and House Minority Leader Lawrence F. Cafero, R-Norwalk, both said most of their respective caucus’ are expected to vote in favor of the plan, […]

It’s too late for the state to avoid having to deal with the largest budget deficit in Connecticut history when the next legislature and governor take office in January. But while that problem is inevitable, some state officials are trying to build some new fiscal guardrails into Connecticut’s budget system to at least reduce the […]

With just 12 weeks left in the fiscal year, Gov. M. Jodi Rell and the Democrat-controlled legislature moved closer Thursday to agreement on eliminating the current $371 million deficit–without tax hikes–based on a compromise plan offered Monday by Rell, sources close to the administration and the Democratic caucuses said. But those sources also said Democrats […]

Leaders of the state legislature’s Democratic majority reached a tentative deal late this afternoon to close the $371 million deficit projected for this fiscal year, Senate President Pro Tem Donald E. Williams Jr., D-Brooklyn, said, adding the agreement also reflects a new plan submitted by Gov. M. Jodi Rell. House Democratic Caucus spokesman Douglas Whiting […]

Leaders of the state legislature’s Democratic majority reached a tentative deal late Friday afternoon to close the $371 million deficit projected for this fiscal year, Senate President Pro Tem Donald E. Williams Jr., D-Brooklyn, said, adding the agreement reflects a new plan submitted by Gov. M. Jodi Rell. House Democratic Caucus spokesman Douglas Whiting also […]

According to her Democratic critics, Gov. M. Jodi Rell has spent much of the past 15 months dodging difficult budget decisions while piling up deficits for the next governor to close. But when a legislative committee recommended Tuesday that Connecticut consumers pay $1.8 billion on their monthly electric bills over the next decade to balance […]

Gov. M. Jodi Rell pledged Thursday to veto a bill that would require Connecticut consumers to pay $1.8 billion on their electric bills over the next decade to balance the last budget of her tenure – even though her budget office released a similar plan in February. Rep. Cameron C. Staples, D-New Haven and co-chairman […]

Nearly $1.8 billion slated to come off most Connecticut consumers’ electric bills over the next decade would remain in place to help balance the state budget under a plan adopted Tuesday by the legislature’s Finance, Revenue and Bonding Committee. The Democrat-controlled panel voted 37-19, largely along party lines, to approve the so-called securitization bill, which […]

The General Assembly’s tax-writing committee wrapped up a plan Tuesday to bring an extra $180 million to $200 million in tax revenue and federal aid into the state’s coffers next fiscal year. The Democrat-controlled Finance, Revenue and Bonding Committee endorsed a dramatic hike in the estate tax, a new levy on hospital gross revenues designed […]

The legislature’s bonding panel offered its own plan Monday to keep state government under its credit limit. But while the Finance, Revenue and Bonding Committee recommended canceling more than 180 projects previously approved for funding – including dozens of community and regional projects in lawmakers’ home districts – it also targeted millions in economic development […]

The legislature’s Finance, Revenue and Bonding Committee is expected to approve selling future revenues tied to monthly electric bills for pennies on the dollar to provide $1.3 billion to help balance next fiscal year’s budget, sources said this afternoon. The committee, which began meeting 10 minutes ago, also will not back an alternative securitization plan, […]