Gov. Ned Lamont submitted a budget proposal on October 1 that draws down Connecticut’s Rainy Day Fund by $1.8 billion, maintains the corporate surcharge tax and implements a hiring freeze to bridge a projected $2 billion budget deficit. The proposed budget would also take $25 million back from departments and ...
An updated study published by the Yankee Institute on Wednesday found that Connecticut government employees earn 28 percent more than comparable private sector employees, largely due to public employees’ generous retirement benefits. That difference adds up to a total of $3.7 billion in tax dollars across all state and local ...
UConn Health Center is facing $114 million loss in revenue after the coronavirus pandemic emptied beds and ended a large number of medical procedures, according to the budget presentation given to the UConn Board of Trustees. According to figures, patient revenue to UConn Health tanked by almost 50 percent during ...
**Meghan Portfolio contributed to this article** States and state universities from Hawaii and California to Maine are proposing employee pay cuts, pay freezes and furloughs in response to the COVID-19 pandemic, which has wrecked havoc on state budgets. Hawaii Gov. David Ige has proposed a temporary 20 percent reduction in ...
“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 ...