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2023 State Budget

Posted inMoney

CT finances projected to stay flush — even after COVID aid expires

Avatar photo by Keith M. Phaneuf July 3, 2023 @ 3:10 pmJuly 14, 2023 @ 9:47 am

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.

Posted inMoney

CT House adopts $51B budget with big middle-class tax cut

Avatar photo by Keith M. Phaneuf June 6, 2023 @ 2:10 amJune 6, 2023 @ 6:19 pm

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

Avatar photo by Keith M. Phaneuf May 31, 2023 @ 1:39 pmMay 31, 2023 @ 10:40 pm

Lawmakers are unlikely to vote on CT budget before next week, but leaders remain optimistic a bipartisan deal will be enacted by June 7.

Posted inMoney

Baby Bonds gridlock threatens Democratic unity on next CT budget

Avatar photo by Keith M. Phaneuf April 13, 2023 @ 5:00 amApril 12, 2023 @ 9:26 pm

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

Avatar photo by Keith M. Phaneuf April 3, 2023 @ 4:05 pmApril 3, 2023 @ 4:05 pm

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

Avatar photo by Keith M. Phaneuf February 17, 2023 @ 4:26 pmFebruary 17, 2023 @ 4:26 pm

Legislators and others say CT has too many pressing education, health care and social service needs to focus solely on the spending cap.

Gov. Ned Lamont stands in front of a building in Bridgeport with other officials on either side.
Posted inHousing

Governor’s budget proposes $600M investment in housing

Avatar photo by Ginny Monk February 16, 2023 @ 4:00 pmFebruary 16, 2023 @ 4:21 pm

The proposed budget would set aside $600 million for various housing ventures, with a goal to create about 6,400 new affordable units.

A University of Connecticut men's basketball game at the XL Center in Hartford, Connecticut
Posted inEducation

UConn threatens to pull sports from XL Center in response to cuts

Avatar photo by Jessika Harkay February 9, 2023 @ 4:52 pmFebruary 9, 2023 @ 5:29 pm

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

Avatar photo by Keith M. Phaneuf February 8, 2023 @ 6:34 pmFebruary 9, 2023 @ 11:35 am

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

Avatar photo by Mark Pazniokas February 8, 2023 @ 5:01 pmFebruary 9, 2023 @ 2:15 pm

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

Avatar photo by Keith M. Phaneuf February 8, 2023 @ 4:50 pmFebruary 8, 2023 @ 5:32 pm

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

Avatar photoAvatar photo by Keith M. Phaneuf and Jenna Carlesso February 8, 2023 @ 4:34 pmFebruary 9, 2023 @ 10:51 am

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

Avatar photoAvatar photo by Keith M. Phaneuf and Jessika Harkay February 8, 2023 @ 2:59 pmFebruary 9, 2023 @ 2:38 pm

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

Avatar photo by Keith M. Phaneuf February 8, 2023 @ 5:00 amFebruary 9, 2023 @ 10:44 am

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

Avatar photo by Keith M. Phaneuf February 7, 2023 @ 5:00 amFebruary 28, 2023 @ 11:04 pm

CT legislators ordered the governor to show how the budget will address inequalities in education, housing and more, and many are watching.

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