Moody’s raised Connecticut’s bond rating from A1 to Aa3 — from its fifth-highest ranking to its fourth-highest.
A Wall Street credit rating agency nudged the state to pump $135 million in new general government aid to municipalities.
The House Republican leader said “it encourages that bad behavior that we’ve seen out of legislators.”
The state Senate’s highest-ranking Democrat proposed new taxes on high-value homes and the capital gains of Connecticut’s highest earners.
Projected state revenues skyrocketed by $1.7 billion Friday, positioning officials to balance the next state budget without tax hikes.
Analysts say surging tax revenues will soften a big deficit this year and dramatically shrink shortfalls over the next biennium.
Joe Biden’s campaign has raised more money than Donald Trump’s as the race enters its final days.
Connecticut is taking a big step toward re-energizing its construction economy, seeking nearly $1.4 billion in financing.
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 Connecticut budget reserves just hit a new high, one of the driving forces behind that accomplishment may be cooling down.
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.
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.
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.
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.
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.