Connecticut’s $4.3 billion budget surplus allows the state to make a huge payment against longstanding pension debt.
2022 State Budget
Posted inMoney
Did Ned Lamont offer the largest tax cut in CT history? By one standard, yes.
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.
Posted inMoney
Lawmakers direct Lamont: Save less, fill vacant state jobs
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.
Posted inMoney
Senate adopts ‘humane’ budget that cuts taxes, looks beyond pandemic
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.
Posted inMoney
Analysts: CT could cut taxes $1 billion more within federal rules
Senate Minority Leader Kevin Kelly said an estimate from the Office of Fiscal Analysis vindicates the GOP’s calls for bigger tax cuts.
Posted inMoney
House adopts one of the largest tax cuts in CT history
The budget positions Connecticut to make an unprecedented $3.5 billion supplemental payment against its massive pension debt.
Posted inMoney
Money keeps pouring into CT’s coffers; This year’s surplus now $4.8 billion
CT legislators awoke to good news Monday as they prepared to debate a new budget: an extra $856 million in tax receipts.
Posted inMoney
Businesses, essential workers come up short in final CT budget deal
The state budget, which could be adopted Monday, includes no major bailouts for businesses or essential private workers hurt by the pandemic.
Posted inMoney
CT budget deal includes $600M in tax cuts, extends gas tax holiday
Gov. Ned Lamont and legislative leaders have agreed on a new $24 billion state budget that features nearly $600 million in tax cuts.
Posted inMoney
Lamont, legislators on the cusp of a new CT budget deal
Legislative leaders and Gov. Ned Lamont’s administration have offered compromises, and debate and a vote could be as soon as this weekend.
Posted inMoney
Senate gives final approval to raises, bonuses for CT state employees
The Democratic-controlled Senate voted 22-13 along party lines to approve the contracts, which cover about 46,000 workers.
Posted inMoney
Social service agencies see big raises for unions and ask: Why not us?
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.
Posted inMoney
Surging revenues could solve Democrats’ tax-cutting dilemma
Lamont and legislators could have a budget deal hammered out over the weekend.
Posted inMoney
House passes raises, bonuses for CT state employees
The Democrat-controlled House voted 96-52 to approve the contracts after a 4-hour debate. The Senate is expected to ratify the deal Friday.
Posted inMoney
GOP pitches income tax cut, says CT can’t sit on $7 billion in reserves
Republican lawmakers unveiled a $1.2 billion tax relief plan, including what would be the first income tax rate reduction in 27 years.