The partisan game of budget show-and-tell, or don’t-show-and-don’t tell, heated up at the state Capitol once again on Wednesday. Senate Minority Leader Len Fasano, R-North Haven, said the GOP would be happy to re-balance its alternative budget – provided majority Democrats take it seriously and invite Republicans into bipartisan budget negotiations.
taxes
Posted inMoney
Tax plan would boost revenues by $1.8 billion over two years
Members of a key legislative panel will be asked Wednesday to approve a plan that bolsters tax receipts by almost $1.8 billion in the next two year budget, including $540 million in new income taxes on the wealthy and an overhaul of the sales tax.
Posted inMoney, Politics
CT spending cap is unique and, some critics say, among the toughest
Like about half of the states in the nation, Connecticut has imposed a cap on the amount of money the state government can spend. But each state has approached the problem of controlling the spending habits of its governors and legislature differently, and Connecticut’s spending cap is unique in a number of ways.
Posted inCT Viewpoints
Keep Connecticut businesses in mind during budget debate
Gov. Dannel Malloy’s recent $40 billion biennial budget proposal for the State of Connecticut contained some reasons for optimism for many in Connecticut. Cities and towns saw a small but unexpected increase in vital state aid, a proposed reduction in the state sales tax could bring some relief to every Connecticut resident and the unveiling […]
Posted inHealth, Money, Politics
House Democrats step off on long, difficult road to a state budget
Majority Democrats in the House of Representatives tried Tuesday afternoon to get their arms around the daunting deficits facing state finances. But after two hours behind closed doors, they left still trying.
Posted inMoney, Politics
Finance chair wants Keno included in new gambling debate
If the state and Connecticut’s Indian tribes are considering opening new gaming sites, then launching Keno – a lottery-style game legislators have flirted with in recent years – must be on the table as well, the House chairman of the legislature’s revenue panel said Tuesday.
Posted inMoney, Politics
Malloy plan pumps up tax receipts by more than $800 million
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.
Posted inMoney, Politics
The Malloy solution: Deep cuts, new tax revenue, deferred promises
The biennial budget Gov. Dannel P. Malloy intends to propose today would erase a two-year, $2.5 billion shortfall with $1.6 billion in spending cuts and $900 million in additional revenue, an attempt to say he is equitably spreading pain while keeping a pledge not to raise taxes. Malloy, a Democrat re-elected last fall, is proposing a three-pronged approach to his second fiscal crisis in four years: deep spending cuts, combined with additional revenue raised by deferring promised tax cuts and boosting tax receipts without changing rates.
Posted inMoney
5 Things to watch for in Gov. Malloy’s new budget
Once a month The Mirror answers five questions about a key element of the state budget process. Today’s story looks at some key issues Gov. Dannel P. Malloy must address in his next biennial budget plan, which is due to the legislature on Feb. 18.
Posted inHealth
Six things to know about Obamacare and taxes
The federal health law created some significant changes for tax filers, particularly those who didn’t have health insurance or who bought health plans through public health insurance exchanges like Connecticut’s Access Health CT. Here are a few things to know.
Posted inMoney, Politics
Fiscal issues in forefront as Malloy, legislators start new terms
Gov. Dannel P. Malloy is to focus on how to modernize the state’s aging web of highways, bridges and railroads in a State of the State Address as he begins his second term today, but he and the General Assembly will be facing significant fiscal challenges in 2015. An overview of the key issues confronting the 2015 legislative session.
Posted inHealth
For Obamacare clients and some uninsured, tax time may get complicated
This is the first year Americans are required to have health insurance. But how will they show they’ve complied with Obamacare’s individual insurance mandate?
Posted inMoney, Politics
Budget chief: Some tax cuts may have to wait; CT colleges likely to face cuts
Gov. Dannel P. Malloy’s budget director acknowledged Monday there’s little likelihood all of the tax relief promised on the campaign trail can be provided in the next state budget, which faces a major deficit projection. And while the governor promised new tax relief for college graduates struggling with student loan debt, budget director Benjamin Barnes said Connecticut’s public colleges and universities probably won’t be spared emergency budget cuts due out this week.
Posted inMoney, Politics
After all the campaign promises, a lot of tough choices loom
Though Connecticut’s gubernatorial contenders spent more time this fall talking about tax cuts than state budget deficits, the red ink awaiting the winner of Tuesday’s contest is very real – and can’t be wiped away without tough choices.
Posted inPolitics
Greenberg campaign hits Esty on taxes
The campaign of Republican candidate Mark Greenberg is hitting his rival, Rep. Elizabeth Esty, D-5th District, on the issue of taxes.