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.
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Posted inHealth, Money
Malloy would veto Medicare program fix as ‘budget gimmickry’
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.
Posted inHealth, Money, Politics
Malloy tries to head off Friday’s special legislative session
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.
Posted inHealth, Money, Politics
Session for Medicare fix delayed until early January
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.
Posted inMoney, Politics
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.
Posted inEducation, Money, Politics
Big deficits two years from now could undercut tax cut promises
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.
Posted inMoney
It’s official: CT finances in deficit after seven weeks with no budget
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.
Posted inHealth, Money, Politics
Pot legalization measure bogs down in partisan feud
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.
Posted inHealth, Politics
CBO: GOP health bill’s impact on CT, other states would vary widely
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.
Posted inMoney
Malloy reports current CT budget has slim surplus
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.
Posted inMoney
Malloy administration says cost-cutting has reduced CT budget deficit
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.
Posted inMoney, Politics
In gloomiest forecast yet, deficit in next budget creeps up to $1.5B
Two days after taking a partial look at the next state budget, nonpartisan analysts cast a broader gaze Thursday — and offered their gloomiest forecast in the past 12 months.
Posted inMoney, Politics
Eroding revenues widen gap in next two-year state budget by $500M
The projected deficit in the next two-year state budget has swelled by more than $500 million because of declining revenue projections, state fiscal analysts reported Thursday.
Posted inMoney, Politics
Malloy: There’s a budget deficit, but it’s really, really small
Gov. Dannel P. Malloy reported a minuscule state budget deficit Thursday — projecting a $6 million shortfall in state government’s $17.9 billion General Fund.
Posted inMoney, Politics
Nonpartisan analysts: CT budget is $78M in deficit
The state budget is running a deficit — albeit a small one — the legislature’s nonpartisan Office of Fiscal Analysis reported Thursday. But it could have big political repercussions.