Gov. Dannel P. Malloy’s two-year budget plan raises more than $360 million in net new tax receipts over the biennium, while canceling or delaying more than $480 million in net tax cuts that he signed last term and promised to start after the election.
State Budget
Posted inMoney, Politics
Will Malloy’s new budget add up to a tax increase?
Gov. Dannel P. Malloy, in Middletown Monday, pitched his sales tax plan as middle-class relief, but he withheld details that would show whether his new budget would increase state taxes overall.
Posted inCT Viewpoints
The success for our schools rests in the governor’s hands
Gov. Dannel Malloy’s upcoming budget proposal, and the General Assembly’s actions that follow, will either move us forward toward continuing to improve public education or act as an impediment to building upon the progress we’ve made in recent years.
Posted inNews
Op-Ed: The success for our schools rests in the governor’s hands
Gov. Dannel Malloy’s upcoming budget proposal, and the General Assembly’s actions that follow, will either move us forward toward continuing to improve public education or act as an impediment to building upon the progress we’ve made in recent years.
Posted inMoney, Politics
Malloy’s sales tax plan asks consumers to sacrifice – for now
Opting not to deliver the largest tax cut he campaigned on last year, Gov. Dannel P. Malloy tried to shift the conversation Sunday with a proposal to whittle down the sales tax rate. But while the middle-income relief the governor pitched is worth $70 million next fiscal year, tucked into that plan is the cancellation of a sales tax exemption on clothing worth twice as much.
Posted inHealth, Money
Hospitals seek to phase out a growing provider tax
After watching a harmless fee turn into a hefty, increasing tax in just three years, Connecticut’s hospitals say a phase-out of the state provider tax is essential to preserve health care services and jobs.
Posted inPolitics
GOP says Lembo ignored deficit to shield Malloy
Connecticut’s budget debate boiled over late Tuesday as the legislature’s top Republicans charged that Comptroller Kevin P. Lembo’s political affiliation has trumped his fiscal integrity. Sen. Len Fasano and Rep. Themis Klarides accused Connecticut’s chief fiscal watchdog of ignoring red ink to help Gov. Dannel P. Malloy – a fellow Democrat – save face.
Posted inMoney, Politics
Barnes tells advocates for poor, kids: Brace for lean budget
Benjamin Barnes, Gov. Dannel P. Malloy’s budget director, warned advocates for children, the poor and other disadvantage citizens to brace for lean funding when the administration releases its next budget in two weeks.
Posted inMoney, Politics
Lembo backs Malloy’s assessment of smaller CT deficit
State Comptroller Kevin P. Lembo gave Gov. Dannel P. Malloy a big vote of fiscal confidence Monday, certifying that Connecticut’s $89.4 budget shortfall is well below the emergency level of one percent, or $174.6 million.
Posted inEducation, Money, Politics
Malloy, GOP hold cards close in deficit showdown
The partisan debate over the state budget deficit might best be described as a poker game — in which neither side will show their cards.
Posted inMoney, Politics
Will Malloy be forced to send deficit closure plan to legislators?
If nonpartisan legislatie analysts are right – and if Comptroller Kevin P. Lembo agrees – the deficit is at least $50 million worse than Gov. Dannel P. Malloy reported last week.
Posted inEducation, Health, Money, Politics
Malloy’s budget cuts again hit social services, universities, courts
Gov. Dannel P. Malloy unveiled more than $31.5 million in spending cuts Friday in his second round of emergency budget reductions, with social services, public colleges and universities and state court system again taking the heaviest hits. A shortfall of at least $89 million remains to be addressed.
Posted inMoney, Politics
Budget talks at high noon — in the cafeteria
The partisan debate over Connecticut’s growing budget deficit, which featured three days’ worth of verbal jabs and taunts by Gov. Dannel P. Malloy and Republican legislative leaders, will close the week Friday with all parties – having lunch.
Posted inMoney
Malloy to order a 2nd round of emergency cuts as deficit swells
Gov. Dannel P. Malloy will order his second round of emergency spending cuts in two months as the current fiscal year’s budget deficit reached a new high Tuesday, approaching $121 million.
Posted inMoney, Politics
Malloy doesn’t get predicted revenue boost, big deficits remain
Connecticut’s economy has not eased the state’s budget crisis as Gov. Dannel P. Malloy predicted on the campaign trail last year. A new analysts’ report Thursday found tax receipts and other revenues still likely to grow as originally anticipated last summer – when major deficits were projected for the next two fiscal years.