Gov. Dannel P. Malloy didn’t take a position early Monday on the prospect of expanded casino gaming in Connecticut, though he did predict the preliminary proposal offered by the Mohegan tribe would not go forward at this time. The governor said if the state’s recent dalliance with keno showed anything, it’s that Connecticut isn’t looking to expand gaming.
Money
Stories about Connecticut’s budget, the federal budget, jobs and employment, state investments and casinos.
Posted inMoney, Politics
It’s official: CT’s budget is $89 million to $100 million in the red
The state budget received its first official deficit reports Friday when nonpartisan legislative analysts and Gov. Dannel P. Malloy’s administration projected shortfalls ranging from $89 million to just under $100 million. Budget director Benjamin Barnes, insisted it quickly would be closed, and reasserted Malloy’s insistence that tax hikes are not an option. (File photo: Gov. Malloy and budget director Barnes)
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Malloy to order emergency cuts, restrict hires to counter impending deficit
To reverse an impending state budget deficit, Gov. Dannel P. Malloy’s administration has told agencies it will order emergency spending cuts and freeze all-but-critical hiring.
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Problem-gambling foes say CT needs new study on addiction
The concept of offering casino games at a new site drew a quick response from Connecticut’s anti-problem-gambling forces: Don’t do anything without fresh data on the state’s gaming addiction issues.
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Mohegan Sun interested in adding a gaming facility in Connecticut
The owners of the Mohegan Sun casino are interested in developing one or more new gaming facilities in Connecticut to keep customers being targeted by new casinos under development in Massachusetts. And while the Mohegan tribe hasn’t fully developed any proposal, or settled on any specific locations, it does believe its most aggressive new competitor lies in Springfield, Mass., where a new $800 million casino is being developed.
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CT budget again faces red ink as federal grants, gaming revenues shrink
Despite a small bump upward in state tax receipts, new cracks in state finances surfaced Monday that could contribute to a budget deficit forecast by week’s end. A joint report by nonpartisan analysts and by Gov. Dannel P. Malloy’s administration projects total revenues will fall about $59 million below the level built into this year’s budget. (Photo: Benjamin Barnes, state budget director)
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Foley’s tax relief on retirement benefits would cost about $100 million
Much of Tom Foley’s last-minute proposal to cut taxes on Social Security benefits already is covered in existing state law. And the GOP gubernatorial nominee’s overall tax relief proposal on retirement benefits would expand Connecticut’s post-election deficit by roughly $100 million next fiscal year.
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After all the campaign promises, a lot of tough choices loom
Though Connecticut’s gubernatorial contenders spent more time this fall talking about tax cuts than state budget deficits, the red ink awaiting the winner of Tuesday’s contest is very real – and can’t be wiped away without tough choices.
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Nonpartisan analysts tracking $84M in potential cost overruns in state budget
Gov. Dannel P. Malloy’s administration isn’t projecting any troubles for the current state budget, but the legislature’s nonpartisan analysts have identified almost $84 million in potential problems. The Office of Fiscal Analysis reported “deficiencies” or potential cost-overruns in five areas.
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CL&P rate request has become a lightning rod
Connecticut Light & Power Co. has nearly four times as many customers here as United Illuminating, the state’s other major electric utility. Yet when it comes to rake hikes – and the Connecticut politicians who care – the ratio is skewed far more heavily toward CL&P.
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Only debate for treasurer turns ugly fast
The only debate between the candidates for state treasurer devolved into a series of angry clashes Wednesday over the health of state pension funds and their respective ethics.
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Malloy tries to catch a favorable tide at Electric Boat
The politics of eastern Connecticut rise and fall with the economic tides on the Thames River, where Electric Boat has designed and built submarines for the U.S. Navy since the dawn of undersea warfare. And, lately, those tides have been rising.
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State to help finance Electric Boat expansion
WASHINGTON – Gov. Dannel Malloy is set to announce the Department of Economic and Community Development will provide Electric Boat $10 million in assistance to help the submarine maker purchase one of the buildings that housed Pfizer before the pharmaceutical company moved out of the state, a congressional source said.
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Malloy boldly projects perfection in last budget update before election
It’s came as no surprise this week when Gov. Dannel P. Malloy’s administration reported the state budget was in balance. What was far more surprising, though, was the added assertion there are no signs of cost-overruns in any of the dozens of agencies supported by this year’s $19 billion budget.
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Comptroller candidates want to bolster transparency, fiscal security
The candidates vying to become Connecticut’s chief fiscal guardian agree more must be done to improve state government’s transparency and fiscal security. But while incumbent Kevin Lembo says the state has made considerable progress on both fronts over the past four years, his Republican challenger, Sharon McLaughlin, insists too much work remains to be done to feel good about the status quo.
