“In light of the horrifying projected budget deficits revealed this morning and Connecticut’s long-term structural imbalance, the only responsible course is for Gov. Lamont to seek to reopen Connecticut’s existing contract with the State Employees Bargaining Agent Coalition (SEBAC). State employee pay, healthcare, pensions and retiree healthcare costs represent a ...
Budget numbers released by the Office of Fiscal Analysis show Connecticut’s budget deficit this year grew to over $1 billion, an increase of more than $687 million over the previous estimate. Gov. Ned Lamont had said this year’s deficit would be roughly $500 million, with next year’s deficit reaching $1.5 ...
Republican Senate Leader Mitch McConnell, R-Kentucky, said on Wednesday he would rather see states declare bankruptcy than issue another $500 billion requested by the National Governors Association to bail out states facing lower revenues and skyrocketing debt costs. “There’s not going to be any desire on the Republican side to ...
Yankee Institute recognizes the valuable service of many Connecticut state employees during the Covid-19 public health crisis, including doctors, nurses, Department of Correction officers, Department of Labor employees and first responders. We are grateful for their courageous work on behalf of Connecticut’s people. However, in light of the pandemic’s potential implications for the state budget, Yankee Institute recommends that Gov. Ned Lamont suspend ...
Democratic governors in New York, Pennsylvania and Virginia are temporarily suspending raises for state employees or freezing pay until they can better understand the fiscal impact of the pandemic, but, thus far, Connecticut state employees are still scheduled to receive a second pay increase, projected to cost taxpayers $353 million. ...
Connecticut had roughly half of the money needed to weather a recession in its unemployment trust fund before the COVID-19 pandemic hit the state, according to a report from the Tax Foundation which tracked unemployment claims across all states and compared them to the 2008 recession. “Many states are woefully ...