More than six out of every 10 federal relief dollars built into the new state budget is earmarked for pensions.
Connecticut lagged most of the nation in personal growth during the pandemic, according to a national think-tank.
The latest U.S. Census survey shows fears of lost income that experts say could shatter Connecticut’s already-fragile economy in 2021.
The UConn think tank also said state has hurt itself by failing to make investments in information technology.
Connecticut can’t print money like Washington, but it has many options to shield its economy from the coronavirus crisis.
While Connecticut budget reserves just hit a new high, one of the driving forces behind that accomplishment may be cooling down.
As Connecticut officials try to balance the state budget, they grapple with a question many other states and the federal government still can’t answer: How much damage was done to the economy during the last recession?
WASHINGTON – How healthy is the state’s economy? It’s a tale of two Connecticuts, and the subject of widely different viewpoints. But a recent federal report shows Connecticut’s big cities lag most others in the nation when it comes to economic growth.
WASHINGTON — There are bright spots in Connecticut’s sluggish economy, even as Connecticut’s key manufacturing sector has lagged, a recent federal report says.
The University of Connecticut’s economic think-tank predicted Thursday that the state’s job growth this year and next probably will stall or even decline — a dramatic reversal of its forecast of robust job growth issued just four months ago.
The new state budget is not finalized, yet the effect of taxing and underfunding hospitals is already being felt in the starkest terms: people are losing access to care, services, and jobs. This past week alone saw the announcements of clinic closings and hundreds of layoffs. If legislators do not restore much-needed funding to hospitals in the special session during the last week of June, hospitals will have to make additional painful choices. We can’t let this happen.
After growing modestly over the past three years, the state’s economy is ready to shift into high gear in 2015, according to a report Wednesday from the University of Connecticut’s economic think tank. And while the director of the Connecticut Center for Economic Analysis says the 8.1 percent growth projected for 2015 probably is too good to be true, achieving even most of that would allow the state to far outstrip the national economy.
Connecticut’s low- and middle-income households could pay tens of millions of dollars less in federal taxes each year while state officials simultaneously gain access to a wealth of new economic data. But for that to happen, according to one of the state’s leading economists, Connecticut officials first take a fiscal leap of faith – and repeal arguably the state’s most popular tax break.
Connecticut consumers will look to save an estimated $7- $9 million starting Sunday and running through Saturday, Aug. 23, as the state offers its 15th annual sales-tax-free week.