Plummeting tax receipts have ripped a nearly $300 million hole in the next state budget, leaving legislators and Gov. Dannel P. Malloy just one week to fix it, according to a new report Wednesday from fiscal analysts.
Money
Stories about Connecticut’s budget, the federal budget, jobs and employment, state investments and casinos.
Posted inMoney
Despite CT lawmakers’ support, minimum wage bill falters in Senate
Washington — Senate Democrats Wednesday failed to move forward on a bill that would boost the federal minimum wage, likely killing the effort in Congress.
The bill failed on a 54-44 vote. Sixty votes were needed.
Posted inMoney
Economists: Deceptive market, sequestration, scuttled Malloy surplus
A deceptive stock market, weak job growth and federal sequestration combined to turn Gov. Dannel P. Malloy’s budgetary oasis into a mirage, according to several leading Connecticut economists.
Posted inEnergy & Environment, Money, Politics
CT Senate passes consumer protections, but advocates balk
The Connecticut Senate unanimously passed consumer protections for electric customers Tuesday that advocacy groups say are inadequate and should be strengthened once the bill comes before the House of Representatives.
Posted inHealth, Money, Politics
Business groups question Malloy health reform funding plan
Gov. Dannel P. Malloy wants health plans to pay for the hiring of nine staffers to develop a state-level health reform plan. Business groups say it’s an unfair burden, and at least one says it might not be legal.
Posted inEducation, Money
Tax break proposal for retired Connecticut teachers still alive
Although Gov. Dannel P. Malloy scrapped two major budget initiatives Monday in the face of declining revenue projections, a third proposal – a new tax break for retired teachers – remains alive, sources close to ongoing budget negotiations said.
Posted inEnergy & Environment, Money, Politics
Will consumer protections match the promises?
A bipartisan compromise, the product of negotiations with the much-maligned retail electric industry, has been drafted and is expected to be approved by the Senate today or Wednesday.
Posted inMoney, Politics
CT lawmakers introduce Metro-North safety bill
Reps. Rosa DeLauro, D-3rd District, Jim Himes, D-4th District, Elizabeth Esty, D-5th District, and New York Rep. Sean Patrick Maloney introduced a bill Monday that would force Metro-North to institute an “alerter” system, a safety system that sounds an alarm when an engineer remains idle while the train is moving.
Posted inMoney, Politics
Malloy gives up on tax rebate, citing declining revenues
Citing declining state revenue projections, Gov. Dannel P. Malloy gave up Monday on two of his biggest re-election year budget initiatives: a $55-per-person rebate and a supplemental payment into the state employees’ pension fund.
Posted inEducation, Energy & Environment, Health, Money, Politics
Tax returns, dozens of dentists and Connecticut’s coastal forest
Monday starts the final full week of the 2014 legislative session. Some issues seem to be getting nailed down (universal pre-k; the UTC tax break deal; the courts’ guardian ad litem system). Others, not so much.
Posted inMoney
House votes to ban ‘unemployed need not apply’ ads
The state House of Representatives voted 81 to 55 Friday for legislation banning employers, recruiters and temporary job companies from discriminating against the unemployed. The legislation, which was sought by Gov. Dannel P. Malloy, was passed without a Republican vote. It now goes to the Democratic-controlled Senate, where passage is expected before the session ends […]
Posted inMoney, Politics
Senate gives final approval to UTC expansion bill
The Senate overwhelmingly granted final approval Thursday to a landmark deal that authorizes $400 million in tax breaks to United Technologies Corp. to trigger a major expansion designed to preserve Connecticut’s aerospace and engineering base.
Posted inMoney, Politics
Top Democratic lawmaker: Malloy rebate plan may have to be reduced
One of the top Democrats in the Senate conceded Thursday that Gov. Dannel P. Malloy’s rebate program might need to be scaled back if disappointing tax revenue projections don’t improve soon.
Posted inMoney, Politics
Should state offer a retirement savings plan for the private sector?
The partisan debate heated up Thursday at the Capitol over whether state government should administer a retirement savings program for private-sector employees.
Posted inMoney, Politics
Top House Republican on tax panel won’t seek re-election
The top House Republican on the legislature’s tax-writing committee, Rep. Sean Williams of Watertown, announced Thursday he won’t seek re-election this fall.
