The CT Mirror (https://ctmirror.org/category/budget-economy/page/2/)
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.”
Democratic legislative leaders and Gov. Dannel P. Malloy stood on the cusp of a deal Wednesday morning to end Connecticut’s 10-week budget impasse and avert huge cuts in municipal aid three weeks from now, sources said. But a few key issues remain unresolved. The House speaker’s optimism was evident in a Facebook post: A picture of white smoke swirling from a chimney that others called premature. Continue Reading →
Connecticut is losing more bioscience jobs than it is gaining, despite a sizable jump in research and development jobs over the last three years. Alexion’s departure is the latest in a line that has undercut bioscience growth. Nonetheless, many say New Haven is nearing a “critical mass” after years of effort by Yale and a new cluster is emerging in Farmington after more than $1 billion in state investment. Continue Reading →
Gov. Dannel P. Malloy picked the gleaming new New Haven offices and labs of Alexion Pharmaceuticals a year ago to highlight the returns Connecticut was getting on its economic development investments. On Tuesday, Malloy stood outside his office to answer questions about Alexion’s plans to slash jobs, close a Rhode Island production facility and relocate its headquarters to Massachusetts, while keeping a “Research Center of Excellence” in New Haven. Continue Reading →
As Gov. Dannel P. Malloy and his fellow Democrats in the legislature struggled Tuesday to reach agreement on a new two-year state budget, Republican lawmakers offered one more plan they hope might entice some disgruntled Democrats. Continue Reading →
Gov. Dannel P. Malloy’s bid to end the state’s budget impasse hinges on convincing legislators to raise taxes on hospitals one more time — and trust supplemental payments to the industry won’t be cut afterward. Hospitals don’t like the gamble. Continue Reading →
How the state funds public schools is so messy and complicated that dozens of parents, educators, legislators, the governor, and a Superior Court judge have characterized the setup as broken. However, some of the criticism that regularly surfaces is based on skewed perceptions of reality. Continue Reading →
Sputtering bipartisan state budget talks, which hadn’t produced any unified plan over the past four months, appeared Monday to have broken down for good — around the same issues that have plagued them in recent years. Continue Reading →
Democratic legislative leaders and Gov. Dannel P. Malloy made progress over the weekend toward a new plan to end the state budget standoff by week’s end — one that would abandon efforts to raise the primary sales tax rate of 6.35 percent. Continue Reading →
As state government’s ongoing budget standoff prepared to enter a crucial week, 200 students and teachers from a regional high school in Burlington protested Sunday in front of the Capitol. Continue Reading →
In the biggest change, Gov. Dannel P. Malloy on Friday offered a much more restrained redistribution of state education aid dollars from better-off communities to impoverished ones. Add all the cuts together, and overall state aid for municipalities would be cut by $198 million – 8 percent. Continue Reading →
Gov. Dannel P. Malloy proposed a major increase in state taxes on hospitals to leverage federal dollars, along with a modest sales tax hike, in a compromise intended to end a budget impasse that’s in its third month and has left Connecticut as one of the last two states without a budget. Continue Reading →
Gov. Dannel P. Malloy announced Thursday he would ease proposed municipal aid cuts and other cost-shifts onto cities and towns by nearly $775 million in an effort to end the state budget standoff that has extended 10 weeks into the new fiscal year. Continue Reading →
Hartford Mayor Luke Bronin warned Gov. Dannel P. Malloy and the legislature Thursday that the capital city is at risk of insolvency within 60 days, absent the additional funding it would receive under a new state budget. Continue Reading →
House Democratic leaders said Wednesday they intend to call a vote on a budget next week with or without a deal with Gov. Dannel P. Malloy and the Senate, a ploy to force wavering lawmakers to decide between an imperfect spending plan and the “cataclysmically worse” choice of forcing Malloy to slash municipal aid by executive order. Continue Reading →
Gov. Dannel P. Malloy has offered a major compromise to end the state budget standoff, scaling back his proposed shift of teacher pension costs to cities and towns by half. Continue Reading →