CT finances are projected to stay at the $1B mark through mid-2027. Preparations for the next recession far exceed those for 2007-09 downturn.
The CT budget proposal features an income tax cut and boosts funding to local schools. The Senate is expected to debate the bill on Tuesday.
Lawmakers are unlikely to vote on CT budget before next week, but leaders remain optimistic a bipartisan deal will be enacted by June 7.
State treasurer Erick Russell hopes to rescue from political limbo a program advocates call crucial to stemming CT’s economic inequality.
Jeffrey Beckham said the tax-cutting plan would primarily benefit the middle class, but progressives say CT can do more for poorer families.
Legislators and others say CT has too many pressing education, health care and social service needs to focus solely on the spending cap.
The proposed budget would set aside $600 million for various housing ventures, with a goal to create about 6,400 new affordable units.
UConn President Radenka Maric said covering a funding shortfall with tuition alone would mean hikes of $3,000 per student.
While Gov. Ned Lamont insists his budget proposal would reduce inequality in CT, legislators and interest groups asked if it will do enough.
Gov. Ned Lamont urged CT lawmakers to embrace his proposed budget as a mix of tax relief, new spending on vital needs and fiscal discipline.
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.
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.
The administration says federal coronavirus aid to colleges was temporary, but many officials say it’s not that simple.
The 2-year budget would deliver the largest income tax cut in history and expand relief for working poor families and small businesses.
CT legislators ordered the governor to show how the budget will address inequalities in education, housing and more, and many are watching.