Gov. Ned Lamont relies on federal funding and state reserves to balance his new budget without significant tax hikes.
Keno
Posted inMoney, Politics
CT closer to offering keno
The state of Connecticut moved closer this week toward offering keno gaming at restaurants, bars and convenience stores this winter. Gov. Dannel P. Malloy’s administration announced it has reached an agreement with the two Indian tribes that run casinos in southeastern Connecticut to share 25 percent of the keno proceeds.
Posted inCT Viewpoints
To lead effectively, Connecticut’s leaders must keep their word
For progressives to be successful, we need people to trust government. In 2014 Gov. Malloy ran on the firm pledge that he would not raise taxes. That pledge has been broken. And it was broken in the context of some nimble maneuvering to circumvent the spending cap. … To make government work better we have to keep faith with the people and to do that we have to be better about keeping our word.
Posted inEducation, Health, Money, Politics
House adopts controversial state budget
Connecticut’s long-running budget drama began drawing to a close early Wednesday as the House of Representatives adopted a $40.3 billion, two-year package that largely restores deep cuts to social services and expands municipal aid while bolstering tax revenues by almost $2 billion.
Posted inMoney, Politics
New budget includes $200 million income tax hit on middle class
A last-minute component of the new two-year state budget deal includes a $100 million-per-year income tax hike on Connecticut’s middle class, according to budget documents released early Monday. The hit comes in the form of a reduced credit for local property tax payments.
Posted inCT Viewpoints
Some keen, others not so, on Connecticut Keno proposal
There is no small amount of disagreement over whether Connecticut should allow the game of chance Keno to be offered by the Connecticut Lottery Corporation in restaurants, bars, and convenience stores. There were dozens of witnesses addressing the issue (H.B. 7054) at a recent hearing, calling the idea everything from a good source of money for education to a regressive and harmful game that preys on low-income residents. Here are some examples.
Posted inNews
Old questions, new concerns on keno
A legislative hearing on a renewed proposal to legalize keno raised old concerns Wednesday about expanding gambling in restaurants, bars and convenience stores and new ones about profit-sharing and technology.
Posted inMoney
Keno faces big test at legislative hearing Wednesday
Connecticut’s on-again-off-again flirtation with keno could get more serious Wednesday after lawmakers conduct a public hearing on the controversial, lottery-style electronic game.
Posted inMoney, Politics
Finance chair wants Keno included in new gambling debate
If the state and Connecticut’s Indian tribes are considering opening new gaming sites, then launching Keno – a lottery-style game legislators have flirted with in recent years – must be on the table as well, the House chairman of the legislature’s revenue panel said Tuesday.
Posted inMoney, Politics
Malloy signs new CT budget into law
Gov. Dannel P. Malloy signed a controversial $19 billion budget Friday for the fiscal year that begins July 1.
Posted inEducation, Health, Money, Politics
Legislature adopts new CT budget built on risky assumptions
The General Assembly adopted a $19 billion budget early Sunday that relies on about $200 million in fund sweeps and risky savings and revenues assumptions to stay in balance – including the last-minute discovery of $75 million in “miscellaneous” tax receipts.
Posted inMoney, Politics
CT budget relies on $75M in newfound ‘miscellaneous’ tax revenues
The new $19 billion state budget the House of Representatives is expected to adopt late Saturday relies on nearly $200 million in fund sweeps, risky savings assumptions and other gimmicks to stay in balance – including the last-minute discovery of $75 million in “miscellaneous” tax revenue.
Posted inEducation, Health, Money, Politics
CT budget deal delays tax breaks, dumps keno, employs iffy savings
Gov. Dannel P. Malloy and Democratic legislative leaders announced a tentative budget deal that postpones tax relief for teachers and consumers, repeals the launch of keno and relies on tens of millions of dollars in questionable savings assumptions.
Posted inMoney, Politics
House aims for Saturday vote on a budget without keno
The prospect of keno being introduced into hundreds of bars and restaurants shortly before the fall elections was enough to encourage legislators and the administration of Gov. Dannel P. Malloy to delete keno revenue from a budget now likely to come to a vote Saturday. Legislators say the final call was the administration’s.
Posted inMoney, Politics
Early tax returns diminish hopes for big CT budget surpluses
As the April 15 tax deadline approached, speculation at the Capitol was that tax receipts would rise. The question was, Would they grow modestly, or explode? But early tax returns have weakened hopes for any explosion, and raised the specter of something worse.