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.”
Despite a 12-month surge in state tax receipts, Gov. Dannel P. Malloy’s budget office warned Thursday that Connecticut’s pension obligations and other debt will grow faster than revenues in the coming years. Continue Reading →
Gov. Dannel P. Malloy outlined a compromise path Thursday that would allow Gov.-elect Ned Lamont to modestly tap Connecticut’s reserves to avoid tax hikes — and still leave a sizable fiscal cushion to guard against the next recession. Continue Reading →
Gov.-elect Ned Lamont reacted cautiously Thursday to several days of good economic news, saying improving tax revenues, economic activity and job creation are coming at what is likely closer to the end than the beginning of an economic expansion in Connecticut and the rest of the U.S. Continue Reading →
State spending on retired teachers’ pensions is set to surge $100 million next fiscal year – an 8 percent increase the state is obligated to fund.
But, strangely, the spike is good news. That’s because this single line item in the state budget is $63 million less than officials anticipated.
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State tax revenue projections surged again Tuesday, shrinking the projected shortfall in the upcoming two-year budget — and leaving Connecticut with nearly $2.1 billion in reserves to combat it. Continue Reading →
Gov.-elect Ned Lamont launched a series of strategic economic development tours Friday with a visit to Connecticut’s southeastern corner, saying the region exemplifies the state’s potential for growth. Continue Reading →
Despite their biggest gains in a decade, majority Democrats in the General Assembly have almost no margin for error if they hope to solve Connecticut’s next budget crisis without Republican votes. Continue Reading →
Will Connecticut be able to borrow funds at affordable rates to rebuild its aging transportation system? New projections show one key barometer of the transportation program’s fiscal health could be slipping into dangerous territory within the next two years. Continue Reading →
Democrat Shawn Wooden and Republican Thad Gray largely see eye-to-eye when it comes to the state’s massive pension debt, the state’s growing reliance on borrowing to cover debt payments, and even the financial bailout for Hartford. But when it comes to the proper background to handle the job, the candidates each say their rival is lacking. Continue Reading →
Democratic incumbent Kevin Lembo and Republican challenger Kurt Miller both see the race for state comptroller as a contest to become Connecticut’s chief fiscal guardian for the next four years. Continue Reading →
Medicaid enrollment fell by 0.6 percent in 2018 — its first drop since 2007 — due to the strong economy and increased efforts in some states to verify eligibility, a new report finds. But costs continue to go up. Continue Reading →
U.S. Senate candidates Chris Murphy and Matthew Corey clashed Friday over taxes, immigration, foreign affairs, and the fate of the Supreme court in their only televised debate. Continue Reading →
Connecticut voters will decide the fate of two proposed constitutional amendments, including a legal “lockbox” designed to ensure transportation-related revenues can’t be diverted for other purposes. Continue Reading →
Democratic gubernatorial nominee Ned Lamont has slowly eliminated most options to close a major post-election deficit in state finances as he’s tried to convince voters he won’t order major tax hikes. [Updated at 7:15 p.m. with comment from Bob Stefanowski’s campaign.] Continue Reading →
Connecticut’s unemployment rate dropped to 4.2 percent Thursday, despite the loss of 500 jobs in September, as labor officials announced August job growth was larger than originally anticipated. Continue Reading →