The projections, much rosier than initially predicted, sparked renewed calls from lawmakers for more state spending to combat the pandemic.
budget deficit
Posted inMoney
Progressives look to bring CT’s tax fairness debate to the grassroots level
The next Connecticut income tax debate is heating up — but not at the Capitol.
Posted inMoney
Connecticut’s record-setting rainy day fund is running on borrowed time
While state analysts struggle with economic uncertainty, they concede Connecticut’s vaunted budget reserve could be gone a year from now.
Posted inHealth
Minimum wage proposal vexes Connecticut nursing homes
The proposal to boost Connecticut’s minimum wage could put nursing homes and home-care providers in a squeeze.
Posted inMoney, News, Politics
CT among highest states in Pentagon per-capita spending
WASHINGTON – Pentagon spending on contracts in 2015 was $2,504 for every man, woman and child in Connecticut, more per person than in any other place except Virginia and the District of Columbia, according to a recently released report by the Pew Charitable Trusts. But a key lawmaker warned Thursday that lean years are coming for the Pentagon’s budget.
Posted inMoney
Trump names Kudlow to top White House economic job
Television economic commentator Larry Kudlow, who lives in Redding, said he had just finished playing tennis Sunday when he received a phone call from President Donald Trump, the first of a number of 30- or 40-minute calls that led to Kudlow’s appointment as Trump’s chief economics adviser.
Posted inEnergy & Environment, Money, Politics
Bipartisan group of lawmakers pushes for new fee to fund parks
A bipartisan group of lawmakers is pushing for a new fee to ensure state parks stay open, staffed and maintained despite the state budget crisis. The fee, which proponents want to set at $10, would be collected along with auto registration fees.
Posted inMoney, Politics
Time is short, but budget talks are going long
With just two weeks left in the 2015 General Assembly session, the principals in final state budget negotiations acknowledged Wednesday that little progress has been made as the June 3 deadline looms large.
Posted inMoney, Politics
Malloy’s message: Forget raising taxes, restoring cuts
Gov. Dannel P. Malloy delivered a message Thursday aimed at dissuading legislators from trying to circumvent a spending cap that Malloy says is a barrier to raising taxes or significantly restoring cuts in his proposed budget for the next biennium.
Posted inMoney
Lembo: Time to fix worsening state budget deficit is now
State Comptroller Kevin P. Lembo agreed Wednesday with nonpartisan analysts that the budget deficit is worse than Gov. Dannel P. Malloy administration is projecting. But while Lembo also urged the governor and legislature “proceed without delay” to reduce the shortfall, his $172.8 million deficit forecast falls just short of the level that would compel the governor to prepare a deficit-mitigation plan.
Posted inEducation, Money, Politics
Deficit 2015: McKinney’s solution lies with ‘ignored’ ideas
This is Part One in a weekly series focusing on Connecticut’s five gubernatorial candidates and their respective plans for reinvigorating the state’s economy and closing a $1.4 billion budget deficit projected for after the election. Part One features an interview with Republican John P. McKinney.
Posted inMoney
Economists: Connecticut must lean less on Wall Street
The economy may be improving, but Connecticut leaders better not count on a return to the ‘boom-boom’ years of the 1980s and ’90s.