Gov. Dannel P. Malloy recently warned Wall Street the state plans to increase borrowing dramatically over the next year. But while Connecticut uses borrowing primarily to finance capital projects, Republican legislative leaders fear the planned spike also signifies that a disturbing trend of borrowing to cover day-to-day expenses will get worse.
Updated 1:25 p.m. Tuesday
Tensions built Monday between Gov. Dannel P. Malloy’s administration and state Treasurer Denise L. Nappier over the governor’s controversial proposal to use $325 million in borrowed funds to pay off debt over the next two years.
State Treasurer Denise L. Nappier warned Gov. Dannel P. Malloy on Friday that one component of his new budget could harm Connecticut’s reputation on Wall Street. In a letter released to the media Friday evening, Nappier – a Democrat – called the Democratic governor’s plan to rely on $325 million in borrowing to cover operating costs “too aggressive.”
WASHINGTON – Newly appointed Democratic Congressional Campaign Chairman Ben Ray Luján officially announced his picks to be his top lieutenants Wednesday, turning to a long-time ally of Minority Leader Nancy Pelosi to succeed Connecticut U.S. Rep. Jim Himes as the group’s finance chairman.
The new legislative session is less than one week old and Gov. Dannel P. Malloy and Republican state legislative leaders have resumed their battle over the health of Connecticut’s credit card.
WASHINGTON – The massive $1.1 trillion omnibus spending bill that Congress struggled to approve – with little help from the state’s Democratic lawmakers – has some clear winners and losers in Connecticut, including Pratt & Whitney, Aetna Inc., food stamp recipients and the U.S. Coast Guard Academy.
WASHINGTON – For Rep. Jim Himes, House approval late Thursday of legislation that would allow banks to trade derivatives — a measure he’s been promoting for years — is a bittersweet victory. “I’m not happy that it became a super-hot button issue when it always received bipartisan support,” Himes said.
WASHINGTON – Legislation championed for years by Connecticut U.S. Rep. Jim Himes, D-4th District, threatened to become a “poison pill’ Wednesday in a massive budget bill that would avoid a government shutdown. Himes’ spokesman, however, insisted the congressman didn’t know how the provision was placed in the budget bill.
Washington – The Progressive Change Campaign Committee is asking its members to lobby House Minority Leader Nancy Pelosi against choosing Rep. Jim Himes as the next head of the Democratic Congressional Campaign Committee.
A deceptive stock market, weak job growth and federal sequestration combined to turn Gov. Dannel P. Malloy’s budgetary oasis into a mirage, according to several leading Connecticut economists.
The economy may be improving, but Connecticut leaders better not count on a return to the ‘boom-boom’ years of the 1980s and ’90s.