The first sign that the coronavirus has infected Connecticut’s budget presented itself Wednesday.
State Budget
Posted inHealth
CT budget is poised to weather coronavirus crisis – for now
COVID-19 is certain to pose fiscal challenges for Connecticut — but keeping the state’s books in balance in the short term isn’t one of them.
Posted inEducation, Money, Politics
Lamont is lenient on spending cap — when it comes to partnership with Dalio
For the second time in two years, Lamont wants to keep state’s $20 million contribution outside the spending cap.
Posted inMoney
Democrats: GOP has a healthy appetite for borrowing too
Republican leaders may be on the governor’s “debt diet,” but rank-and-file GOP lawmakers are bypassing the proverbial salad bar.
Posted inPolitics
Trump’s budget cuts funding for Virginia-class subs from two to one
Electric Boat has for more than a decade built two submarines a year, but the president’s budget only calls for one Virginia-class boat.
Posted inMoney
Lamont keeps state spending lean to build reserves against next recession
Gov. Ned Lamont proposed a lean $22.3 billion budget Wednesday that would push Connecticut’s emergency reserves close to $3 billion while keeping taxes largely flat.
Posted inMoney
Lamont’s new budget takes aim at vaping, debt-free college program
There are no major tax hikes in Gov. Ned Lamont’s budget proposal, but it does include a ban on flavored vaping liquids and place restrictions on the debt-free college program.
Posted inMoney
Lamont’s bond presentation could put tolls proposal at risk
Gov. Ned Lamont must decide how much detail about his latest bonding proposal to release to legislators Wednesday, including any proposals that might entice legislators to support his trucks-only tolling plan.
Posted inMoney
Lamont hopes cap will keep lawmakers’ hands off $2.5B reserve
Connecticut is sitting on a multi-billion-dollar reserve but lawmakers will have to get around the spending cap – and the governor – if they want to tap it.
Posted inMoney
New report shows state revenue has remained stable
The latest revenue projections show CT can expect $169 million more than the governor and legislators originally anticipated.
Posted inMoney
State OT costs continue to creep up, but salary expenses remain way down
State agency overtime expenses continue to rise, according to a new report, but overall salary costs remain below those of a decade ago.
Posted inMoney
Lamont eyes emergency budget cuts, even as reserves swell
Gov. Ned Lamont recently raised the specter of emergency budget cuts, which typically hit nonprofits and higher education the hardest.
Posted inMoney
Best of 2019: Partisan battle heats up over whether new CT budget is balanced
Republican leaders argue it is unbalanced and unconstitutional, relying on labor savings still to be negotiated.
Posted inMoney
Best of 2019: Lamont’s pension shift would leave CT’s children deep in debt
Faced with another huge deficit, Lamont and Democratic lawmakers are weighing whether to shift billions of dollars in pension debt onto the next generation of taxpayers.
Posted inMoney
Connecticut’s legacy of debt weighed heavy on Lamont’s first budget
Gov. Ned Lamont had lofty goals, but found was that fixing Connecticut’s budget meant grappling with the state’s enormous debt.