The Finance Committee approved bills that increase – and broaden – property and child tax credits for Connecticut residents.
1,000 Friends of Connecticut recommends pumping hundreds of millions of additional dollars into cities and towns — particularly poor communities.
Sen. Fonfara said the decision not to tap revenue to reverse inequities is a moral failure.
The new, $46.4 billion, two-year state budget is expected to have plenty left over to put into the pension funds.
Authorizing a nine-member panel to invest state tax receipts in cities likely would violate the Constitution, the attorney general says.
With two weeks left in the legislative session, progressives are making their strongest tax reform push in years.
The compromise is intended to appeal to both fiscal moderates and the party’s liberal wing.
Lawmakers raised bills to cap property tax hikes, and potentially battle Gov. Ned Lamont for control of Connecticut’s borrowing.
By the end of the new budget cycle, the state could have a $3 billion reserve, which is three times the size of the cushion it built in the early 2000s.
The administration of Gov. Ned Lamont was ready to put a tumultuous week behind it Thursday night, downplaying a pointed rebuke by a legislative committee the previous day.
With a proposal for lawmakers to seize control of the state’s credit card, a state senator is calling the governor’s “debt diet” unpalatable.
None of the options are good for Democrats, who must decide whether to spread additional tax pain to low and middle-income residents or ask the state’s wealthiest to pay more.
State Comptroller Kevin P. Lembo has renewed his push to require an independent analysis of the hundreds of millions of dollars in economic incentives Connecticut provides annually to businesses.