The CT Mirror (https://ctmirror.org/category/budget-economy/)
The Connecticut Mirror provides comprehensive coverage of the state and federal budgets as well as Connecticut’s economy. Find all of our stories on those topics here.
For a deeper look at Connecticut’s state budget crisis, read Keith Phaneuf’s acclaimed five-part series, “A Legacy of Debt.”
The U.S. Supreme Court’s decision Thursday opening the door for states to capture sales tax receipts for online and other remote transactions could help Connecticut capture more than $100 million annually in new revenues. Continue Reading →
Gov. Dannel P. Malloy cautioned his fellow Democrats in the legislature Wednesday that pressing bills restricting the state bailout of Hartford and the governor’s authority over education aid could inflame urban voters at the wrong time. Continue Reading →
Connecticut gained 4,100 jobs in May but its unemployment rate remained unchanged at 4.5 percent, the state Department of Labor reported Thursday.
Continue Reading →
The top Republican in the state Senate is challenging a warning from University of Connecticut officials that further tuition hikes may be needed as soon as 2019 to offset declining state funding. Continue Reading →
Despite numerous reforms in recent years, state government’s pension costs still could reach “unaffordable” levels in the early 2030s, according to a new “stress test” analysis prepared for the Pew Charitable Trusts. Continue Reading →
Connecticut received a key approval Friday for a new hospital taxing arrangement designed to draw $150 million in new federal money annually into the state’s coffers. Continue Reading →
A key panel within Connecticut’s consolidated higher education system endorsed the framework for a new budget Wednesday that maintains the tuition schedule but would reduce dangerously low emergency reserves. Continue Reading →
Legislative leaders are leaning against attempting to override Gov. Dannel P. Malloy’s latest veto. The reason: they included what effectively amounts to duplicate language in a second bill the governor already has signed. Continue Reading →
Gov. Dannel P. Malloy on Friday vetoed a bill that would have prohibited him or future governors from cutting education-cost sharing grants to cities and towns as a means of addressing a budget shortfall that develops during the fiscal year. He also allowed a bill to become law without his signature, a first for the governor. Continue Reading →
More affluent kids are about twice as likely to visit a museum, art gallery, or historical site or see a play or concert over the summer, as compared with their peers from low-income families. That’s according to a new analysis released this month by the federal government, illustrating disparities in out-of-school experiences, which may be exacerbated by rising income inequality. Continue Reading →
While Connecticut’s distressed cities often are perceived as having bloated budgets, the wealthy suburbs easily outspend their urban neighbors on a per capita basis, sometimes by margins nearing two-to-one. More importantly, shrinking state aid, a lack of revenue diversity and an over-reliance on a regressive property tax system threaten to widen tremendous disparities that already exist between Connecticut’s poorest and richest communities. Second in a series. Continue Reading →
The growing gap between Connecticut’s richest and poorest citizens, which already outstrips that in most other states, has widened dramatically since the last recession. While only the most affluent households improved their standing, the rest lost ground. How to address this inequality and a crushing state debt at the same time will be at the core of Connecticut’s political debate for years to come. First in a series. Continue Reading →
In less than three weeks state government will contractually bind itself to a new series of budgetary controls for the next five years despite numerous warnings the maneuver could cause fiscal chaos. Continue Reading →
WASHINGTON – Rep. Jim Himes split from other Connecticut Democrats Wednesday in supporting a bill that pares down several restrictions of the 2010 Dodd-Frank bill, a law imposed on U.S. banks and other institutions after the global financial crisis. Continue Reading →
WASHINGTON – The Internal Revenue Service and the Treasury Department said Wednesday they intend to issue regulations to rein in an attempt by Connecticut and other states to get around a new limitation on the deductibility of state and local taxes. Continue Reading →