The CT Mirror (https://ctmirror.org/tag/deficit/)
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 →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
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 →
Gov. Dannel P. Malloy’s administration scaled back its deficit forecast Tuesday for the current fiscal year, citing additional savings in the Judicial Branch and in fringe benefit costs. Continue Reading →