State Treasurer Denise L. Nappier warned this week that Gov. Dannel P. Malloy’s recommendation that Connecticut defer and otherwise restructure contributions into the teachers’ pension fund could jeopardize the state’s standing on Wall Street.
Democratic and Republican legislative leaders, who returned this week to the Capitol to open the 2018 session, conceded they are sharply divided on how to wipe more than $400 million in red ink off Connecticut’s books. And while they also pledged to reach for a bipartisan compromise, no one expressed optimism this would be achieved before Connecticut’s next governor takes office 11 months from now.
Gov. Dannel P. Malloy recommended two measures Monday aimed at protecting Connecticut households and businesses that may face higher federal taxes under the plan passed recently by Congress. One would allow municipalities to create charitable organizations to support local services, offering property tax credits in exchange.
Beginning last week and continuing through Monday, more than 40,000 unionized state workers are eligible to cast ballots on the tentative concessions deal reached on May 23 by Gov. Dannel P. Malloy. This cartoon illustrates how the voting works.
The governor’s plan would also cut an $11.8 million fund that has provided money to small, independent hospitals. And it would restore the administration’s ability to unilaterally cut funding to hospitals through a technical budgeting change.