Gov. Ned Lamont proposed a $50.5 billion budget with more than $500 million in tax relief, topped by Connecticut’s first major income tax cut.
Money
Stories about Connecticut’s budget, the federal budget, jobs and employment, state investments and casinos.
Posted inHealth, Money
Big new investments top Lamont’s human services budget
Child care rate hikes and erasure of medical debt are in Gov. Lamont’s budget proposal, but it does not increase key funding for nonprofits.
Posted inMoney
Lamont to colleges: Adjust to life without federal pandemic aid
The administration says federal coronavirus aid to colleges was temporary, but many officials say it’s not that simple.
Posted inMoney
Connecticut’s budget process, explained
The CT General Assembly approves a two-year state budget and bond package in odd-numbered years. Here’s a closer look at the process.
Posted inMoney
Lamont to propose $50.5B budget, more than $500M in tax relief
The 2-year budget would deliver the largest income tax cut in history and expand relief for working poor families and small businesses.
Posted inMoney
Lamont, lawmakers strike deal to renew CT budget controls
CT Gov. Ned Lamont and lawmakers agreed to renew CT budget controls for another decade, but plans for school funding grants are on hold.
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Many eyes on CT budget, which must address inequalities
CT legislators ordered the governor to show how the budget will address inequalities in education, housing and more, and many are watching.
Posted inMoney
Income tax cut in CT? Lamont plan could save middle class $440M
CT officials estimate the tax cuts would save most middle-class joint filers about $600 per year and single filers would save about $300.
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CT Capitol is overflowing with ideas for how to cut the sales tax
CT lawmakers have proposed reducing the 6.35% sales tax rate while also seeking to create new exemptions or restore old ones.
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Lamont unveils $45M tax cut for CT’s working poor
The expanded earned income tax credit would save families about $211 per year on average and make CT’s EITC rate among the highest.
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LIHEAP can help CT families cover energy costs. How is it funded and who qualifies?
LIHEAP helps low-income families pay for winter heating and other energy costs. Here’s an overview of the program and its eligibility requirements.
Posted inPolitics
Democrats to Lamont: Ease fiscal restraints for CT schools’ sake
Lamont wants to keep fiscal ‘guardrails’ in place, but legislators see a way to increase education funding with savings from the revenue cap.
Posted inMoney, Politics
CT tax cuts are likely, but fierce debate expected over who benefits
CT’s fiscally moderate Democratic Gov. Ned Lamont may find more allies among Republicans when it comes to proposals to cut taxes.
Posted inMoney
CT essential worker relief payments will be issued starting Feb. 1
CT will begin issuing pandemic bonuses to private-sector workers on Feb. 1. More than 150,000 essential workers will receive payments.
Posted inMoney
Connecticut’s gas tax is returning incrementally. What’s going on?
CT’s 25-cents-per-gallon gas tax was suspended in March 2022 due to rising fuel prices. As of Jan. 1, the state is gradually restoring it.