Connecticut made a historic $1.6 billion payment toward its $40 billion pension debt thanks to the state’s volatility cap, and that payment is expected to achieve significant savings over the next four years, according to
Budget
Connecticut lawmakers and Gov. Ned Lamont bridged a $3.5 billion biannual budget deficit during the 2021 legislative session, largely using federal COVID relief funds combined with some revenue and accounting adjustments the state has employed
As Connecticut prepares to make a historic $1.6 billion payment toward its unfunded pensions, a new report shows Connecticut has the highest taxpayer debt of any state in the nation. According to Truth in Accounting’s
Language that would have given state department commissioners the ability to contract with other states was removed from the budget implementer by a voice vote in the House of Representatives. Section 221 of the implementer
Despite comments from Gov. Ned Lamont and Democratic legislative leaders saying the General Assembly would not take up the Transportation and Climate Initiative program this year, language in the budget implementer bill allowing state department
Connecticut Attorney General William Tong issued a formal opinion saying the proposed Connecticut Equitable Investment Fund proposed by Democrats on the Finance, Revenue and Bonding Committee “lacks the requisite standards and limits to survive to
The Moderate House Democratic Caucus said they stand with Gov. Ned Lamont in opposing tax increases on Connecticut’s wealthy residents proposed by their progressive counterparts as Democratic legislative leaders and the governor begin budget negotiations.
Democratic legislative leaders held a press conference pitching a $46 billion budget proposal from the Appropriations Committee and announcing their intention to push forward with tax increases on Connecticut’s wealthy residents despite opposition from Gov.
The Appropriations Committee unanimously passed a plan to spend $2.8 billion in federal COVID-relief funds, including paying down $310 million in unemployment funds borrowed from the federal government to pay the massive influx of unemployment
The budget package passed by the Finance, Revenue and Bonding Committee includes more than $1 billion in new taxes by 2023 coupled with some targeted tax credits, according to the fiscal note attached to the