Connecticut state budget

Recent Posts

Malloy: Time to stretch out spiking teacher pension costs

Gov. Dannel P. Malloy has called on state lawmakers to restructure Connecticut’s contributions into its cash-starved teacher pension fund, deferring some expenses for decades but mitigating huge, projected cost spikes in the coming 15 years. Continue Reading →

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Federal tax changes further polarize debate over state income tax

Now that Congress has passed a massive federal tax overhaul, political observers here agree it could have a chilling effect on future proposals to raise the Connecticut income tax — even 14 months from now when a huge deficit looms in state finances. But liberals and conservatives were split over whether this is a good thing, as huge pressures are projected to test state finances in unprecedented fashion in the coming years. Continue Reading →

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Federal tax changes could create misleading budget ‘bubble’ in CT

Gov. Dannel P. Malloy’s administration warns the scramble to adjust to federal tax changes could produce a one-time revenue bubble here that might fool state legislators into underestimating serious problems with Connecticut’s finances. Continue Reading →

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Special session over Medicare Savings plan stars in political theater

Legislative leaders struggled Tuesday to find some way to call themselves into special session just before Christmas to restore funds for a popular social services program — but not to address the majority of a $203 million state budget deficit identified last month. Continue Reading →

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GOP House, Senate divided over budget politics, tactics

House and Senate Republicans parted ways Tuesday, at least temporarily, over how to frame the GOP’s approach to resolving the mammoth deficit looming over the next state budget. Should they match Democrats in releasing their alternative? Or release nothing until Republicans and Democrats see each other’s plans? Continue Reading →

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Malloy would cut local aid deeply to offset eroding CT tax receipts

Gov. Dannel P. Malloy has recommended more than $700 million in cuts to municipal aid to help compensate for a $1.5 billion projected decline in state income tax receipts over the next two years. Continue Reading →

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Coventry town manager Elsesser: Connecticut should consider the commercial activities tax

John A. Elsesser, longtime Coventry town manager, has been one of the leading figures in municipal government for nearly four decades. He understands the varied and intensifying fiscal pressures facing Connecticut and its municipalities, recognizes the need to raise revenue; and sees one possible way to do it fairly — a commercial activities tax. Continue Reading →

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