House Approves $51B Budget with Historic Tax Cut, Housing Investments
The Connecticut House of Representatives overwhelmingly passed a two-year, $51 billion state budget early Tuesday that includes a historic cut to the state’s personal income tax.
Lamont Plugs $600M Housing Plans in Bridgeport
Gov. Ned Lamont visited Bridgeport Thursday to tout a piece of his two-year budget proposal that would dramatically expand state spending on housing development.
House Passes $46.7B Budget Plan with No Tax Increases
Connecticut’s House of Representatives approved a two-year, $46.7 billion state budget deal early Wednesday with no new taxes that lawmakers said will help guide the state as it continues to emerge from the coronavirus pandemic.
Democrats Resigned to Dropping Local Aid in COVID-19 Bill
As top Washington negotiators reach for a long-delayed agreement on COVID-19 relief, rank-and-file Democrats appear increasingly resigned to having to drop, for now, a scaled-back demand for fiscal relief for states and local governments whose budgets have been thrown out of balance by the pandemic.
Lamont: Connecticut Has ‘Got Our Mojo Back’
Gov. Ned Lamont welcomed state lawmakers back to the Capitol with a pep talk on Wednesday, touting an improved economy, a more stable state budget and an uptick in economic development.
Budget, Tolls Still Unfinished as Session Adjournment Nears
Connecticut lawmakers began the new legislative session in January with a weighty to-do list. With adjournment just days away, some of the key items on that list remain unfinished.
Democrats’ ‘Handshake Agreement’ on State Budget Skips New Income Taxes
Gov. Ned Lamont and Democratic legislative leaders announced Thursday they’ve reached a “handshake agreement” on a new two-year state budget they said doesn’t increase personal income tax rates or include a proposed capital gains tax, but applies the state sales tax to some new goods or services.
Committee Backs $262M Capital Gains Tax Expansion in Budget Bill
A state revenue package that rejects much of Democratic Gov. Ned Lamont’s proposed sales tax expansion, yet includes new or higher taxes on alcohol, capital gains income, prepared meals, digital downloads, cigarettes and more will become the basis for upcoming budget negotiations.
CT Realtors Attacks New Capital Gains Proposal
A proposal to place a new capital gains tax on the state’s highest earners came in for strong criticism from Connecticut’s main real estate industry trade group.
Fiscal Panel Report Renews Call for State Tax Reform
Formed by the state legislature in 2017 and officially disbanded earlier this year, the Commission on Fiscal Stability and Economic Growth – now a collection of private citizens – resurfaced Wednesday, releasing an updated version of its plan for restoring Connecticut’s “competitive edge.”
Connecticut’s Economy Growing at Faster Pace
Connecticut’s financial picture appears to be brightening somewhat, Gov. Dannel P. Malloy’s budget director told state lawmakers Tuesday.
Malloy Makes Adjustments to State Budget
Gov. Dannel P. Malloy signed legislation into law that makes adjustments to the fiscal year 2019 state budget, as well as deficiency appropriations for agencies in the current fiscal year.
2017 Brought Growth Across the State
It may be that 2017 is best remembered as the year the real estate recovery finally got a foothold in Connecticut.
Local Community Organizations, Administration Gather To Discuss State Budget
Gov. Dannel P. Malloy recently met with the leadership of the Connecticut Conference of Municipalities and the Connecticut Council of Small Towns (COST) to discuss the impact that the state budget impasse is having on local communities and to explore areas of common interest where the administration and the organizations could work together.
Lack Of State Budget Leaves Towns And Cities Guessing
With Connecticut’s state budget in limbo, many cities and towns have blindly set their local tax rates for the new fiscal year beginning July 1, hoping they won’t need to send out refunds or supplemental property tax bills to cover any gaps in anticipated state aid.
Job Cuts Continue At Connecticut Agencies, More Planned
Democratic Gov. Dannel P. Malloy’s budget office says 724 positions have been eliminated so far from Connecticut’s executive branch of government and more layoffs are expected. The figure announced Wednesday by the Office of Policy and Management does not include cuts...Override Of $22 Million Line-Item Budget Veto Not Expected
It appears unlikely the House of Representatives will attempt to override Connecticut Gov. Dannel P. Malloy’s rare $22 million line-item budget veto. A veto session is scheduled for Monday, but House Majority Leader Joe Aresimowicz says the House Democrats, who...13 More State Employees Receive Layoff Notices
Thirteen more Connecticut state employees in the executive branch have received layoff notices since last week. This latest group, announced Wednesday, all work at state vocational technical high schools located in Hartford, Milford, Hamden, Middletown and Windham....
Malloy Cancels Raises For State Managers
Pay raises for at least 1,950 non-union state managers are being canceled because of Connecticut’s continued budget problems. Gov. Dannel P. Malloy’s chief of staff and budget director said in a letter Monday to state agency heads that “the state’s fiscal situation...Lawmakers Say Connecticut Budget Deficit Talks Continuing
State legislative leaders say they’re making progress toward reaching a possible bipartisan plan to close Connecticut’s mid-year budget shortfall. Democratic and Republican lawmakers met privately with Democratic Gov. Dannel P. Malloy on Monday for more than an hour....
