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Posted inMoney

Wall Street agency nudges CT to keep funding pledge to municipalities

Avatar photo by Keith M. Phaneuf March 26, 2021 @ 12:00 pmAugust 1, 2022 @ 4:09 pm

A Wall Street credit rating agency nudged the state to pump $135 million in new general government aid to municipalities.

Posted inEconomic Development

CCM tries to get a little louder on property tax relief

Avatar photo by Keith M. Phaneuf November 12, 2019 @ 10:55 amMarch 5, 2022 @ 12:19 am

After watching state aid erode over the past decade, Connecticut municipalities hope to appeal directly to voters to order property tax relief.

Posted inPolitics

A rainy day fund beckons, but Lamont insists on fiscal reforms

Avatar photoAvatar photo by Keith M. Phaneuf and Mark Pazniokas November 19, 2018 @ 5:00 amMarch 4, 2022 @ 11:40 pm

Ned Lamont’s biggest challenge as governor is likely to be devising and then selling fellow Democrats in the General Assembly on the “structural changes” he says are necessary to break Connecticut’s cycle of chronic budget deficits.

Posted inEducation, Money

Municipal aid hit will multiply as big grants are cut this week

Avatar photo by Keith M. Phaneuf October 2, 2017 @ 5:00 amAugust 1, 2022 @ 3:09 pm

The toll Connecticut’s budget standoff has taken on cities and towns will nearly quadruple this week as key education and general government grants will be reduced or withheld.

Posted inEducation, Health, Money, Politics

House adopts controversial state budget

Avatar photoAvatar photoAvatar photo by Keith M. Phaneuf, Jacqueline Rabe Thomas and Arielle Levin Becker June 3, 2015 @ 6:23 amMarch 4, 2022 @ 10:40 pm

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.

This is a photo of House Speaker J. Brendan Sharkey, D-Hamden.
Posted inMoney, Politics

House approves bill to restrict tax exemption for colleges, hospitals

Avatar photo by Keith M. Phaneuf May 22, 2015 @ 1:42 amAugust 3, 2022 @ 11:31 am

The House of Representatives approved a measure early Friday that would end a portion of the municipal tax exemption long possessed by private, nonprofit colleges and hospitals.

Posted inMoney

Defying Malloy, legislators pitch a $1.8 billion revenue increase

Avatar photo by Keith M. Phaneuf April 29, 2015 @ 4:58 pmMarch 4, 2022 @ 10:37 pm

A key legislative panel broke Wednesday with Gov. Dannel P. Malloy by recommending a plan that bolsters state tax and fee receipts by more than $1.8 billion over the next two fiscal years, including more than $540 million in new income taxes on the wealthy and an overhaul of the sales tax.

Posted inEducation, Money

Panel: Empower towns to raise revenue, control special ed costs

Avatar photoAvatar photo by Keith M. Phaneuf and Jacqueline Rabe Thomas February 5, 2015 @ 2:49 pmMarch 4, 2022 @ 10:33 pm

Expanding municipal taxation options, encouraging communities to share costs regionally and reforming special education topped House Speaker J. Brendan Sharkey’s new plan Thursday to bolster local and state budgets.

Posted inPolitics

Sharkey’s property tax compromise dies in the Senate

by Keith M. Phaneuf and Mark Pazniokas May 7, 2014 @ 4:15 pmMarch 4, 2022 @ 10:22 pm

House Speaker J. Brendan Sharkey, D-Hamden, made a last-ditch effort Wednesday to pass a compromise version of his bill to limit the property-tax exemption for non-profit institutions, but it died amid an ice-cold reception from senators and red-hot opposition from colleges.

Posted inEducation, Money, Politics

Horse-trading on Derby day: preschool for property taxes?

Avatar photo by Mark Pazniokas May 3, 2014 @ 6:25 pmMarch 4, 2022 @ 10:21 pm

The state House of Representatives took a step Saturday toward curbing the property-tax exemption enjoyed by nonprofit hospitals and colleges — and what the House members hope will be a bigger step toward improving relations with the Senate.

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