Connecticut’s bond commission just approved another $1 billion in general obligation bonds to be issued for schools, capital projects and tax credits to businesses, but beginning in 2018 the state will begin to issue a new type of bond. Included in the bipartisan budget package was a provision to issue new revenue bonds tied directly to Connecticut’s income tax, which the Treasurer’s office described as “stable and strong.”
Marc E. Fitch
Gov. Dannel Malloy issued a warning Thursday over the future of Connecticut’s special transportation fund, which will no longer be able to fully fund a number of transportation projects due to increasing debts costs and lower-than-expected revenue.
Newly released data from the Internal Revenue Service shows a record loss of high-income tax filers and their families in 2015 following the state’s second largest tax increase. A total of $2.6 billion in adjusted gross income was lost to other states as Connecticut experienced a net loss of roughly 20,179 residents.
The Division of Criminal Justice has ignored a 2009 executive order by Gov. M. Jodi Rell, which limited the amount of time retired employees could be rehired by an agency, according to a new state audit.
When a city or town is forced to go to binding arbitration over a labor contract, they often have little to gain and a whole lot to lose, but the decision comes down to one person.
More than 27,000 current state employees are receiving cash payouts or extra vacation time as the result of a lawsuit settlement with Connecticut’s state employee unions, which dates back to 2003.