Surging sales tax receipts are swelling Connecticut’s already robust coffers by another $800 million, sparking new talk of tax cuts.
State Budget
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Lamont ends controversial experiment with school construction financing oversight
The governor’s reversal comes one day after the state’s deputy budget director, who oversaw the program, retired under a cloud.
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Just four years after the cupboard was bare, CT is a national leader in budget reserves
Connecticut’s fiscal safety net has few rivals, according to a new report from The Pew Charitable Trusts.
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Lamont continues to keep OT costs in check despite pandemic
The coronavirus didn’t hinder Gov. Ned Lamont’s administration from keeping a lid on hefty overtime costs.
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Unprecedented surplus in new CT budget may be even larger than legislators thought
A $2.3 billion fiscal cushion in the new state budget might be fatter by hundreds of millions of dollars.
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Lembo: Extra pension payments mean big savings now — and down the road
By depositing $1.2 billion extra into its pension funds now, the state hopes to save $2.75 billion over 25 years.
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Public sector pensions are prime beneficiary of federal COVID relief grants
More than six out of every 10 federal relief dollars built into the new state budget is earmarked for pensions.
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Scanlon forces Lamont to keep focused on tax fairness, relief for middle class
The new state budget mandates Connecticut’s first tax fairness study in seven years.
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Looming fiscal cliff could reignite CT’s tax fairness debate
Though state government is awash in cash, a fiscal cliff looms that could intensify a growing tax fairness debate.
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CT Senate gives final approval to $46.4 billion state budget
The Senate adopted the two-year state budget Wednesday, sending the package to Gov. Ned Lamont with bipartisan support.
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Democratic lawmaker calls CT budget ‘a knee on the neck of the Black community’
Sen. Fonfara said the decision not to tap revenue to reverse inequities is a moral failure.
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House approves $1.5 billion, five-year urban investment initiative
The House of Representatives overwhelmingly approved a new, $1.5 billion, five-year investment program in Connecticut’s poorest cities and towns.
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House adopts $46B budget that avoids tax hikes
The House approved a new budget early Wednesday that avoids tax hikes and invests in municipalities and social services.
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Legislature passes highway usage tax on large commercial trucks
The legislature approved a new usage tax on large commercial trucks to bolster Connecticut’s rebuild of its transportation network.
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New CT budget has an unprecedented built-in surplus of $2.3 billion
The new, $46.4 billion, two-year state budget is expected to have plenty left over to put into the pension funds.