Residents turned to municipal bonds to lower their tax burden, which in turn lowered borrowing rates for state governments.
tax breaks
Posted inMoney
Can tax break promises be kept?
Seniors, teachers, hospitals, corporations and other groups are pressing lawmakers to deliver the tax relief they pledged in 2017 — even though Gov. Ned Lamont says Connecticut no longer can afford it.
Posted inNews
Malloy pledges millions in state aid as EB ramps up sub production
WASHINGTON — Gov. Dannel P. Malloy on Tuesday pledged tens of millions of dollars in state funds, loans and tax breaks to help Electric Boat ramp up for increased submarine production in Connecticut.
Posted inHealth, Politics
GOP gives House members proposal to repeal, replace the ACA
WASHINGTON — The proposal, which will be considered later this month in a series of hearings, includes replacement of the law’s subsidies that help people buy insurance with tax credits based on a person’s age, not income, and elimination of federally mandated basic benefits in an insurance plan.
Posted inMoney, Politics
New Year’s brings little to celebrate for CT fuel cell industry
WASHINGTON — Congress dealt a key – and growing – Connecticut industry a blow by failing to extend a fuel cell tax break at the end of the year – an omission that could cost the state jobs.
Posted inHealth, Politics
CT business community on watch over ACA repeal effort
WASHINGTON — GOP plans to repeal the Affordable Care Act would affect individuals who’ve been purchasing their coverage on state exchanges or through the expansion of Medicaid the most, but some who receive their health care from their employers are also likely to be affected.
Posted inEnergy & Environment, Politics
Koch brothers, others seek to quash tax break that aids CT fuel cell industry
Connecticut’s fuel cell industry, one of the most robust in the nation, is up against a powerful coalition that includes the Koch brothers and other conservative interest groups who want to end an important tax break for the industry.
Posted inPolitics
Navy praises CT-Sikorsky deal as it haggles over helicopter’s cost
WASHINGTON — The Navy lauded Connecticut’s effort to help Lockheed Martin cut the cost of the CH53K King Stallion, a new heavy-lift helicopter for the Marines, but the Navy and the company still are negotiating over the contract for the huge new helicopter.
Posted inNews
CT beat out S.C., Florida, others for billions in helicopter work
WASHINGTON — Lockheed Martin was considering South Carolina, Florida and other states as places to build Sikorsky’s new CH-53K King Stallion helicopter – a Defense Department program expected to cost at least $25 billion – when the company and Gov. Dannel P. Malloy struck a deal to keep the work in Connecticut.
Posted inPolitics
Murphy presses bill that would force release of Trump tax returns
WASHINGTON — Since Donald Trump has declined to release his tax returns, Sen. Chris Murphy is backing a way to make them public – a bill that would force the issue. The effort is part of a renewed Democratic campaign over Trump’s tax filings.
Posted inMoney
Malloy vetoes tax breaks passed on final night of session
Gov. Dannel P. Malloy vetoed two bills Thursday, siding with municipalities on one that would have allowed 100-percent property tax breaks in perpetuity for non-profit and for-profit arts entities. The other would have enhanced legislative oversight over economic-development incentives, and Comptroller Kevin P. Lembo called that veto “deeply troubling.”
Posted inPolitics
Defense spending, permanent R&D tax break benefit CT firms
A hyper-busy Congress accomplished this week much of what it wasn’t able to do all year.
Posted inMoney, Politics
Esty splits from CT colleagues, White House, on tax bills — twice
WASHINGTON – For two days in a row, Rep. Elizabeth Esty has split with the White House and the rest of the Connecticut delegation on two bills that would make a series of tax breaks permanent.
Posted inPolitics
Esty’s vote helps GOP thwart White House veto threat
WASHINGTON — Bucking her party and the White House, Rep. Elizabeth Esty on Thursday helped House Republicans approve by a veto-proof margin a bill opposed by the Obama administration.
Posted inPolitics
Deadline looms for Congress to extend popular tax breaks
WASHINGTON – Unless Congress acts soon, Connecticut commuters, students, homeowners and businesses will lose a number of valuable tax credits and deductions. These credits and deductions, known as “extenders,” aren’t a permanent part of the tax code and must be renewed by Congress from time to time.