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.
2023 State Budget
Posted inMoney
CT House adopts $51B budget with big middle-class tax cut
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.
Posted inMoney
CT budget vote likely to run into final week of legislative session
Lawmakers are unlikely to vote on CT budget before next week, but leaders remain optimistic a bipartisan deal will be enacted by June 7.
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Baby Bonds gridlock threatens Democratic unity on next CT budget
State treasurer Erick Russell hopes to rescue from political limbo a program advocates call crucial to stemming CT’s economic inequality.
Posted inMoney
Lamont budget chief: Proposed cut makes tax system fairer
Jeffrey Beckham said the tax-cutting plan would primarily benefit the middle class, but progressives say CT can do more for poorer families.
Posted inMoney
Lamont, legislators heading for a battle over CT spending cap
Legislators and others say CT has too many pressing education, health care and social service needs to focus solely on the spending cap.
Posted inHousing
Governor’s budget proposes $600M investment in housing
The proposed budget would set aside $600 million for various housing ventures, with a goal to create about 6,400 new affordable units.
Posted inEducation
UConn threatens to pull sports from XL Center in response to cuts
UConn President Radenka Maric said covering a funding shortfall with tuition alone would mean hikes of $3,000 per student.
Posted inMoney
Lamont budget ignites debate on wealth inequality in CT
While Gov. Ned Lamont insists his budget proposal would reduce inequality in CT, legislators and interest groups asked if it will do enough.
Posted inPolitics
Lamont asks legislature to stay the course on fiscal restraint
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.
Posted inMoney, Politics
CT budget: Lamont pitches big tax cuts in first budget of new term
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.
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
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
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.