Moody’s raised Connecticut’s bond rating from A1 to Aa3 — from its fifth-highest ranking to its fourth-highest.
Wall Street
Wall Street agency nudges CT to keep funding pledge to municipalities
A Wall Street credit rating agency nudged the state to pump $135 million in new general government aid to municipalities.
Lamont’s budget would borrow nearly $220 million — to pay off borrowing
The House Republican leader said “it encourages that bad behavior that we’ve seen out of legislators.”
Senate leader pitches new state property tax on high-value homes
The state Senate’s highest-ranking Democrat proposed new taxes on high-value homes and the capital gains of Connecticut’s highest earners.
Spiking tax revenue will wipe out state budget deficit, analysts say
Projected state revenues skyrocketed by $1.7 billion Friday, positioning officials to balance the next state budget without tax hikes.
Wall Street continues to soften COVID’s impact on CT’s budget woes
Analysts say surging tax revenues will soften a big deficit this year and dramatically shrink shortfalls over the next biennium.
CT donations to Biden campaign have surged
Joe Biden’s campaign has raised more money than Donald Trump’s as the race enters its final days.
CT heads to Wall Street to jump-start its construction industry
Connecticut is taking a big step toward re-energizing its construction economy, seeking nearly $1.4 billion in financing.
Wooden: Spending reserves would weaken investor confidence in CT
Spending state budget reserves to bolster transportation could undermine Connecticut’s readiness for the next recession, weaken investor confidence and increase borrowing costs, the treasurer warned.
While CT’s reserves rise, Wall Street compensation shrinks
While Connecticut budget reserves just hit a new high, one of the driving forces behind that accomplishment may be cooling down.
Immigrant-turned-millionaire Arora challenges Himes
WASHINGTON– The race for the 4th District congressional seat pits political novice Harry Arora, a Republican who says he backs most of Donald Trump’s agenda, against a Democratic incumbent, Rep. Jim Himes, who has the political winds at his back.
Wall Street warns new federal tax rules could boost CT’s borrowing costs
The new federal cap on income tax deductions could translate into higher interest costs for Connecticut and other wealthy states when they borrow for school construction and other capital projects, warns a Wall Street credit rating agency.
Himes splits with CT Dems on Dodd-Frank changes
WASHINGTON – Rep. Jim Himes split from other Connecticut Democrats Wednesday in supporting a bill that pares down several restrictions of the 2010 Dodd-Frank bill, a law imposed on U.S. banks and other institutions after the global financial crisis.
Nappier, Malloy divided over how to fix teacher pension fund
State Treasurer Denise L. Nappier warned this week that Gov. Dannel P. Malloy’s recommendation that Connecticut defer and otherwise restructure contributions into the teachers’ pension fund could jeopardize the state’s standing on Wall Street.
Wall Street firm: CT schools ruling helps state, hurts cities
A major Wall Street rating agency said the recent Connecticut Supreme Court ruling that the state provides at least a minimally adequate education in all school districts is a “credit positive” for state government, but a “negative” for its largest cities.