Gov. Ned Lamont will need an extra $200 million in the next biennial budget to bolster the teachers’ pension fund.
debt
Posted inMoney
Lamont wants to slam brakes on state borrowing
Gov. Ned Lamont pledged Tuesday to slam the brakes on state borrowing, proposing a “debt diet” that could drain significant resources from municipal school construction and capital projects at state universities.
Posted inMoney
Lengthy CT budget debate leaves capital program low on cash
Connecticut’s long-running battle to adopt a new state budget has left the capital program used to build schools, roads and bridges low on cash.
Posted inPolitics
Backed by CT lawmakers, new law shields Puerto Rico from creditor lawsuits
WASHINGTON — Puerto Rico announced Friday it will default on nearly $1 billion of its debt, but legislation backed by Connecticut lawmakers and signed by President Barack Obama this week puts a halt to legal battles that would stem from the island’s inability to pay for a growing share of its debt.
Posted inMoney
Pew report: CT deep in debt, even considering its high income
Even weighed against Connecticut’s high per capita income, the state’s bonded debt and unfunded retirement benefits outrank most other states’, according to a new analysis by The Pew Charitable Trusts.
Posted inMoney, Politics
GOP relies on Malloy ‘gimmick’ to balance its budget plan
Faced with shrinking state tax receipts, minority Republican legislators Thursday grudgingly used one of the largest “gimmicks” they had chastised Gov. Dannel P. Malloy for in their latest budget proposal.