As municipalities brace for a massive hit in state assistance this fall, absent a new budget, House Speaker Joe Aresimowicz said Wednesday his chamber may vote on a fiscal plan next month — even if it acts alone.
municipal aid
Posted inMoney, Politics
Malloy proposes $300M in new revenue to mitigate cuts during CT budget gridlock
Gov. Dannel P. Malloy asked legislators to consider nearly $320 million in revenue increases to mitigate the massive cuts he would be forced to impose if Connecticut enters the new fiscal year Saturday without a budget.
Posted inEducation, Health, Money, Politics
Prolonged CT budget standoff will hurt towns, disabled, needy
A prolonged state budget fight inevitably would force cuts both to town aid and to social services for the most vulnerable, even though those programs would be prioritized, Gov. Dannel P. Malloy’s budget director said.
Posted inMoney, Politics
Amid budget crisis, House passes plan to let towns adjust tax bills
The House of Representatives unanimously approved a bill Saturday to help cities and towns adjust their property tax bills as the state’s budget crisis plays out in the coming weeks or months.
Posted inEducation, Money, Politics
Malloy would cut local aid deeply to offset eroding CT tax receipts
Gov. Dannel P. Malloy has recommended more than $700 million in cuts to municipal aid to help compensate for a $1.5 billion projected decline in state income tax receipts over the next two years.
Posted inHealth, Money, Politics
No one wants a share of CT’s teacher pension bill
Municipalities and hospitals both fear the new cost burdens they would assume in Gov. Dannel P. Malloy’s budget would grow quickly as state retirement benefit costs surge in the coming years.
Posted inEducation, Money, Politics
GOP, Malloy offer plans to restore stalled local aid
Republicans in the state House and Senate and Gov. Dannel P. Malloy both released proposals Tuesday to restore stalled municipal aid that local officials hoped to receive this fiscal year.
Posted inEducation, Money, Politics
Malloy: Pension bills for CT towns part of a larger plan
The shift of $400 million in teacher pension costs onto municipalities is part of a much larger plan not only to close a significant projected state deficit, but also to address long-ignored inequities in municipal funding, the governor said. More details of that plan are expected today.
Posted inEducation, Health, Money, Politics
Union concessions still key focal point in a time of hard tradeoffs
With Gov. Dannel P. Malloy’s proposal less than seven weeks away, his budget director warned that unless unions grant further concessions, avoiding major tax hikes likely would require significant cuts to municipal aid, social services, higher education — and more layoffs.
Posted inMoney
CT’s fiscal woes could mean higher municipal borrowing costs
A major Wall Street credit rating agency warned Thursday that Connecticut’s state budget woes and “dim economic growth” could make it more costly for its cities and towns to get credit.
Posted inMoney
Towns will craft their own plan to regionalize, ease local tax burden
As state officials increase their warnings that municipal aid may be curtailed in the coming years, Connecticut’s cities and towns will craft their own plan to regionalize services and make local government more efficient.
Posted inJustice, Money, Politics
Malloy signs CT budget but trims town aid to offset prison costs
Gov. Dannel P. Malloy showed legislators Thursday there was a fiscal price to be paid for rejecting his anti-recidivism proposals. The governor signed the legislature’s $19.76 billion budget for 2016-17 into law, but only after using the rarely employed line-item veto to cancel more than $22 million earmarked for municipalities, health clinics and the Connecticut Humanities Council.
Posted inEducation, Health, Justice, Money, Politics, Transportation
Nonpartisan analysts: Tentative CT budget wipes away lots of red ink
The tentative plan to close a $1 billion hole in Connecticut’s finances starting July 1 also would wipe away more than 40 percent of the red ink threatening state government after the November elections, nonpartisan fiscal analysts reported Tuesday evening.
Posted inEducation, Health, Money, Politics
Down to the wire on chances for a regular-session CT budget
Updated at 10:30 p.m.
Chances of a state budget deal before the legislative session ends Wednesday could hinge on whether negotiations – sparked by Gov. Dannel P. Malloy’s new budget proposal – bear fruit overnight Monday into Tuesday.
Posted inEducation, Health, Money, Politics
Legislators send Malloy an invitation and a proposed fiscal plan
A week after suspending budget talks with the administration, the Democratic leaders of the General Assembly offered an olive branch and a proposal for a new fiscal plan Thursday to Gov. Dannel P. Malloy.