A vice president and economist with the Connecticut Business and Industry Association, Peter Gioia has spent the past 18 years with the state’s chief business lobby, managing its research department and tracking Connecticut’s economy through a quarterly survey. In this week’s Sunday Conversation he talks about the recently approved, bipartisan state budget; the long struggle to adopt it, and its impact on Connecticut’s business community.
State Budget
Posted inEducation, Money, Politics
Big deficits two years from now could undercut tax cut promises
While the new state budget promises an array of tax cuts two and three years from now, it also leaves the next governor and legislature to close a $4.6 billion projected shortfall — far larger than the deficit lawmakers addressed in the current plan.
Posted inHealth, Money, Politics
Malloy rejects hospital tax plan but signs most of CT budget into law
Gov. Dannel P. Malloy used his line-item veto to reject a new taxing arrangement on hospitals, but signed into law the bulk of a new, two-year state budget negotiated without direct input from his administration.
Posted inMoney
CT towns to feel credit crunch even with a new state budget
Despite legislative approval of a bipartisan state budget, a major Wall Street credit rating agency warned Friday municipalities still will struggle to get affordable credit.
Posted inEducation, Energy & Environment, Health, Money, Politics
House sends veto-proof, bipartisan budget to Malloy
With the final flourish of a veto-proof margin, the House of Representatives voted Thursday to give final legislative passage to an overdue, bipartisan budget crafted without the direct involvement of Gov. Dannel P. Malloy.
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 inMoney
Funds for XL Center, crumbling foundations in $3.5B bond package
Legislators authorized new borrowing to assist homeowners in eastern Connecticut with crumbling foundations, to upgrade the XL Center in Hartford and to complement a new taxing arrangement with the state’s hospital industry.
Posted inMoney, Politics
On eve of budget vote, Malloy still in the dark
Not only has Gov. Dannel P. Malloy been shut out of bipartisan budget talks for three weeks, it’s become clear that the governor and his staff will have little opportunity to review or push for changes in a final budget bill before it is debated Wednesday by the Senate.
Posted inMoney, Politics
Leaders finish changes to tentative CT budget deal
State legislative leaders announced early Tuesday morning they finally had finished adjustments on the tentative, bipartisan state budget deal, and that it would be ready for a vote later this week.
Posted inMoney, Politics
Car tax repeal hits a snag, tentative CT budget still unbalanced
Updated at 6:40 p.m.
Senate Democratic leaders hinted Monday that plans to eliminate property taxes on motor vehicles next year as part of a new state budget would be scaled back or scrapped altogether — just two business days after legislative leaders announced the initiative.
Posted inMoney, Politics
Malloy criticizes budget outline; Fasano calls him ‘irrelevant’
The syncopated rollout of the General Assembly’s bipartisan budget deal got a harshly skeptical review Friday from Gov. Dannel P. Malloy, who either will be the final arbiter of what legislative leaders say will be a satisfactory ending to Connecticut’s long-running budget drama — or just a loud voice from the balcony.
Posted inEnergy & Environment, Money
Tentative budget raids CT electric bills, diverts clean energy funds
The tentative state budget deal would strip as much as $175 million from clean energy funds, tapping surcharges on monthly utility bills and raiding a program lauded for leveraging hundreds of millions of dollars in private investments.
Posted inMoney, Politics
House leaders have different takes on fate of tentative CT budget
Democratic and Republican House leaders briefed rank-and-file lawmakers Thursday on the details of the tentative, bipartisan state budget deal announced the day before — and emerged with very different perspectives.
Posted inMoney
New budget might end property tax on vehicles
State legislative leaders are strongly considering eliminating local property taxes on motor vehicles in the state budget they hope to adopt next week.
Posted inMoney
Hartford must restructure debt to get state help to avert bankruptcy
Hartford would have to restructure its debt to get the state aid it needs to avert bankruptcy, but Connecticut would help make those debt payments — at least for the next two years.