Posted inMoney

CT’s legacy of debt was Malloy’s ultimate challenge

Gov. Dannel P. Malloy would be hounded by the debt-riddled state finances he inherited, pension obligations that would force deficits and tax hikes while leaching dollars from transportation and other programs. But Malloy also would be the first governor in modern history not to saddle future generations with pension costs owed during his administration.

Posted inEducation, Health, Money, Politics

After 117-day marathon, Senate passes bipartisan budget

The Senate took a major step early Thursday toward ending Connecticut’s nearly 17-week budget impasse, overwhelmingly adopting a $41.3 billion, two-year plan that closes huge deficits without raising income or sales tax rates, imposes modest cuts on local aid, and provides emergency assistance to keep Hartford out of bankruptcy.

Posted inEducation, Money, Politics

Malloy, GOP spar over whether budget’s town aid increase is real

Gov. Dannel P. Malloy’s administration charges that the reported bump in municipal aid in the Republican-crafted state budget is fiction — “gimmickry” that understates last year’s local aid to make the new grants look larger. Senate Republican leader Len Fasano insists the aid is real and that the governor should sign the budget, which attracted bipartisan support.