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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. Continue Reading →

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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. Continue Reading →

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CT transportation system at risk of dramatic contraction

Connecticut’s cash-starved transportation program would need to scrap some rail services, drive up fares, suspend 40 percent of planned capital projects and defer major highway rebuilds like the Hartford Viaduct, to remain solvent over the next five years, Gov. Dannel P. Malloy’s administration has warned Wall Street. Continue Reading →

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A frosty Friday for Malloy, GOP over $350M in borrowing

The battle to balance Connecticut’s budget spilled over onto its credit card Friday at the Bond Commission, where the prospect of more borrowing sparked what Gov. Dannel P. Malloy called one of his “weirder” confrontations with legislators. Malloy and two Republican legislators on the commission sparred over the necessity for hundreds of millions of dollars in approved borrowing. Continue Reading →

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Nappier pitches dedicating share of income tax to control borrowing costs

After watching its standing fall on Wall Street in recent years, Connecticut may have to pledge a portion of its income tax receipts when borrowing for future capital projects. State Treasurer Denise L. Nappier unveiled a program Monday she says will help control borrowing costs and enable the state to rebuild its depleted reserves. Continue Reading →

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