Gov. Ned Lamont says his tax relief plan is the largest in CT history, yet it’s a tiny share of the government’s current financial windfall.
The new CT state budget limits Lamont’s ability to save money once the fiscal year is underway to encourage filling of more vacant state jobs.
The Senate voted 24-12, largely along party lines, to adopt the package, which now heads to Gov. Ned Lamont, who is expected to sign it.
Senate Minority Leader Kevin Kelly said an estimate from the Office of Fiscal Analysis vindicates the GOP’s calls for bigger tax cuts.
New projections show state finances will be in the black even after federal pandemic relief is gone in 2025.
The budget positions Connecticut to make an unprecedented $3.5 billion supplemental payment against its massive pension debt.
The state treasurer had hoped to return smaller sums to individuals even if they didn’t file a claim, but the new bill would complicate that.
CT legislators awoke to good news Monday as they prepared to debate a new budget: an extra $856 million in tax receipts.
The state budget, which could be adopted Monday, includes no major bailouts for businesses or essential private workers hurt by the pandemic.
With nearly 4,000 CT state workers having retired or planning to in the first half of this year, 17% of most Executive Branch jobs are vacant.
Legislators want more information next year from Gov. Ned Lamont’s administration on its plan to sell CT tax debt.
Gov. Ned Lamont and legislative leaders have agreed on a new $24 billion state budget that features nearly $600 million in tax cuts.
Legislative leaders and Gov. Ned Lamont’s administration have offered compromises, and debate and a vote could be as soon as this weekend.
The Democratic-controlled Senate voted 22-13 along party lines to approve the contracts, which cover about 46,000 workers.
As state budget talks wind down, CT nonprofits ask why a $72 million proposal to help their industry, which employs 115,000, is bogged down.