The Department of Housing paid exorbitant fees to a lender administrating the Shoreline Resiliency Loan Fund, part of Gov. Dannel Malloy’s Shore Up CT program created in 2014 to give homeowners and businesses low interest loans to upgrade their properties to withstand coastal storms in the wake of Superstorm Sandy. ...
Heritage Analyst Tells CT: Fix Your Debts Now
STAMFORD – The featured speaker at the Yankee Institute’s Policy Luncheon had a clear message for Connecticut’s policymakers and opinion leaders: “Fix the state’s unfunded liabilities now!”
Curtis Dubay, a Connecticut native and Senior Tax Policy Analyst at the Heritage Foundation in Washington, D.C. spoke to nearly 60 Yankee Institute guests on Tuesday, October 8, at the Stamford Sheraton about tax reform both at the federal and state level. He touted Heritage’s Saving the American Dream tax reform plan that is far simpler, more transparent, and less costly than the current tax code.
But the big message was for state and local governments to get serious about unfunded liabilities, usually pension and health care obligations that governments are contractually obligated to pay but have not saved enough to actually do so. He recommended pension reforms to give public employees more control over their retirement future and more security in the long run.
At an evening event for municipal candidates in Cromwell, Dubay again emphasized this message, telling the local candidates to focus on pension reform at the local level. He connected it to tax reform, noting that debt reform was the best way to prevent future tax increases.
State Troopers doubling pay with overtime due to staffing shortage, as state braces for mass retirements
An audit of the Department of Emergency Services and Public Protection found that 56 percent of state troopers singled out for review earned more than 100 percent of their base salary through overtime. “These employees’ base salaries ranged from $44,129 to $83,137, while overtime ranged from $50,968 to $190,677,” the ...