Washington – Corporations like Pfizer, United Technologies, Alexion and others spend millions on research each year, hoping to develop new products or processes that contribute to their bottom line.
Money
Stories about Connecticut’s budget, the federal budget, jobs and employment, state investments and casinos.
Posted inMoney, Politics
CT Democrats vow to grow more jobs in 2014
With Connecticut’s unemployment rate continuing to lag the nation’s, majority Democrats tried to assure voters Tuesday that job development is their top priority. Leaders from the House and Senate unveiled a jobs and business agenda that includes additional financing for job subsidies, new school-to-job programs, expansion of state ports and business opportunities near college campuses and new protections for businesses facing baseless patent lawsuits.
Posted inMoney, Politics
Malloy says Connecticut’s long-term debt outlook has improved
Gov. Dannel P. Malloy tried to get a leg up Thursday in the ongoing partisan debate over the state’s long-term debt. While the Democratic governor has taken heat for increased borrowing, the administration released a new report showing that reforms he implemented against worker retirement benefits will save far more in decades to come.
Posted inMoney
Economist: Post-election budget deficit threatens CT’s economic gains in 2014
Connecticut’s “tepid recovery” could pick up steam in 2014, buoyed by the national and regional economies that continue to outperform the Nutmeg State’s, a leading economist told the state’s business leaders Tuesday.
Posted inMoney, Politics
McKinney, Malloy continue yearlong battle over Connecticut’s debt
Gov. Dannel P. Malloy and one of his chief GOP rivals, Senate Minority Leader John P. McKinney, are ending 2013 as they began it — battling over Connecticut’s hefty credit card debt. The Fairfield lawmaker has been citing a new report that undercuts one of the governor’s chief defenses: that overall debt is less than […]
Posted inMoney, Politics
Governor’s budget chief to town leaders: No cuts in state aid expected next year
Ben Barnes, the governor’s budget chief, has told municipal leaders not to expect any cuts in state funding for the upcoming fiscal year that begins July 1.
Posted inMoney, Politics
More than $500 million available for election-year state budget
There could be more than $500 million available to Gov. Dannel P. Malloy and the legislature this spring as they prepare the final state budget before the 2014 elections. According to the regular monthly report filed by Malloy’s budget staff with Comptroller Kevin P. Lembo’s office, this fiscal year’s budget is on pace to run $273 million in the black.
Posted inMoney, Politics
DeLauro splits with delegation to vote against budget bill
Washington – Rep. Rosa DeLauro, D-3rd District, split with Connecticut’s four other House members in voting against a $1.04 trillion budget deal that will avert another government shutdown, eliminate across-the-board spending cuts known as the sequester and set federal spending levels for the next two years.
Posted inMoney, Politics
Malloy defends economic record, touts transparency initiative
Bloomfield – Gov. Dannel P. Malloy signed an executive order Tuesday authorizing a searchable website detailing who has benefited from $475 million in direct economic aid granted during his tenure, a concept opposed by a top administration official when proposed by Comptroller Kevin Lembo.
Posted inMoney, Politics
Downplaying deficit raises concerns among Malloy’s base
In an effort to shield himself from his Republican rivals, Gov. Dannel P. Malloy may have raised some new concerns about state finances among his political base. The Democratic governor’s budget office demonstrated how a major budget deficit after the 2014 election could be cut almost in half — but only by continuing practices that unions, municipal leaders and social service advocates have decried for years.
Posted inMoney, Politics
Bye to lead CT legislature’s budget committee
Sen. Beth Bye, D-West Hartford, was named Wednesday as the co-chairwoman of the Appropriations Committee, succeeding the long-serving Sen. Toni Harp, D-New Haven, on the eve of an election-year General Assembly session likely to be dominated by fiscal issues.
Posted inMoney
CT tax amnesty program way ahead of collection target
The state’s amnesty program for tax delinquents has raised nearly double its collection target, with 11 days still to go, Revenue Services Commissioner Kevin B. Sullivan reported Monday.
Posted inEducation, Health, Money
Auditors cite ‘excessive’ spending at UConn Health Center
The state auditors’ office outlined a series of “excessive” spending practices Wednesday at the UConn Health Center involving professional development, compensatory time, retirement benefits and specialized legal fees topping $800 per hour.
Posted inMoney, Politics
CT’s bond rating: Sign of the times or same old news?
Republican gubernatorial contenders seized on a cautionary note from a bond rating agency this week about Connecticut’s credit card, calling it Wall Street’s response to new criticisms of the state’s finances. The problem, though, is the note released by Fitch Ratings Service isn’t new.
Posted inEnergy & Environment, Money
Malloy wants to end Metro-North’s use of single power lines
Gov. Dannel P. Malloy on Monday called for an investigation into whether the Metro-North rail line should ever rely on one power line to service the trains responsible for transporting thousands of commuters. “Since we now know what a catastrophic event looks like based on what’s happened in New York, I don’t want to see that happen anywhere else on the line and certainly don’t want to see it happen in Connecticut,” Malloy told reporters during a Monday morning press conference at the State Armory in Hartford.