Gov. Dannel P. Malloy’s administration announced Monday that state finances have been running almost $138 million in the black since the fiscal year began on July 1. Continue Reading →
CT has a surplus – for now
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deficit
Recent Posts
Larson continues push Social Security reform — and says Trump would back him
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WASHINGTON– For years, Rep. John Larson has been traveling the country to promote a plan to stabilize Social Security and boost benefits for the poorest Americans. While the plan has failed to move forward, Larson says he now has a powerful new ally — Donald Trump. Continue Reading →
Filed under: Politics, benefits, colas, deficit, Donald Trump, entitlement reform, entitlements, John Larson
CT Dems help derail GOP’s balanced-budget amendment
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WASHINGTON — House Republicans failed on Thursday to pass a balanced-budget amendment the GOP hoped would rebrand the GOP as the party of fiscal responsibility. Connecticut Democrats helped torpedo the effort. Continue Reading →
Filed under: Budget/Economy, Politics, Washington, balanced budget amendment., CBO, Congressional Budget Office, cuts to social programs, deficit
Time is running out for lawmakers to close CT budget deficit
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With 10 days left before Connecticut enters the final quarter of the fiscal year, the legislature still has not addressed a significant deficit that leaders pledged to tackle four months ago. Continue Reading →
Filed under: Budget/Economy, Politics, Connecticut state budget, deficit
Malloy to take one last shot at balancing CT’s books
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Gov. Dannel P. Malloy will use the final budget proposal of his tenure next week to urge lawmakers to close a nearly $165 million gap in next fiscal year’s finances and mitigate much larger shortfalls facing his successor. Continue Reading →
Filed under: Budget/Economy, Politics, Connecticut state budget, Dannel P. Malloy, deficit, income tax, sales tax
Malloy vetoes Medicare program fix, calls it ‘wishful’ budgeting
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In a largely symbolic act, Gov. Dannel P. Malloy vetoed a bipartisan bill Monday to reverse cuts to the Medicare Savings Program, calling it an unbalanced exercise in “wishful thinking” that only would worsen projected budget deficits. Continue Reading →
Filed under: Budget/Economy, Health Care, Politics, Connecticut state budget, Dannel P. Malloy, deficit, Medicaid, Medicare Savings Plan
Malloy would veto Medicare program fix as ‘budget gimmickry’
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Gov. Dannel P. Malloy pledged Friday to veto the budget adjustment bill legislators are expected to adopt Monday, saying their plan to reverse cuts to the Medicare Savings Program exacerbates deficits already plaguing state finances. Continue Reading →
Filed under: Budget/Economy, Health Care, Connecticut state budget, deficit, Medicaid, Medicare Savings Program
Malloy tries to head off Friday’s special legislative session
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Hoping to focus legislators on closing a $224 million state budget deficit, Gov. Dannel P. Malloy suspended legislatively mandated cutbacks to a popular social services program for seniors and the disabled until July 1. Continue Reading →
Filed under: Budget/Economy, Health Care, Politics, Connecticut state budget, Dannel P. Malloy, deficit, General Assembly, Medicaid
Session for Medicare fix delayed until early January
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State legislative leaders Tuesday again delayed their plans to reverse cuts to the Medicare Savings Program in December, but pledged to restore all funds in early January. Continue Reading →
Filed under: Budget/Economy, Health Care, Politics, Connecticut state budget, deficit, Medicare Savings Program
Federal tax changes could create misleading budget ‘bubble’ in CT
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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 →
Filed under: Budget/Economy, Politics, Ben Barnes, Connecticut income tax, Connecticut state budget, deficit, DRS, federal income tax
Big deficits two years from now could undercut tax cut promises
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While the new state budget promises an array of tax cuts two and three years from now, it also leaves the next governor and legislature to close a $4.6 billion projected shortfall — far larger than the deficit lawmakers addressed in the current plan. Continue Reading →
Filed under: Budget/Economy, Higher Education, Politics, Schools/Child Welfare, budget2017, CBIA, Connecticut Business and Industry Association, deficit
It’s official: CT finances in deficit after seven weeks with no budget
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Just over seven weeks into the new fiscal year without an approved budget, state finances — not surprisingly — are running $94 million in deficit, Gov. Dannel P. Malloy’s administration reported Monday. Continue Reading →
Filed under: Budget/Economy, budget2017, deficit, mrsa, municipal aid, sales tax
Pot legalization measure bogs down in partisan feud
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The legislature provided the latest example from a dysfunctional session Monday as a bipartisan effort to legalize recreational marijuana broke down minutes before its public announcement. Continue Reading →
Filed under: Budget/Economy, Health Care, Politics, budget2017, Connecticut state budget, deficit, marijuana
CBO: GOP health bill’s impact on CT, other states would vary widely
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WASHINGTON — An analysis of the likely impact of the final House GOP bill to repeal and replace the Affordable Care Act says it would leave an additional 23 million uninsured by 2026 and reduce the federal deficit by $119 billion over the next decade. Continue Reading →
Filed under: Health Care, Politics, Washington, Affordable Care Act, American Health Care Act, CBO, Chris Murphy, Congressional Budget Office
Malloy reports current CT budget has slim surplus
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State government’s finances are back in the black — albeit by a razor thin margin — according to new estimates released Friday by Gov. Dannel P. Malloy’s administration. But major shortfalls still are projected for each of the next two fiscal years. Continue Reading →