Connecticut was ranked 47th out of 50 states for its business tax climate, a drop from 44th last year, in the latest study from the Tax Foundation.
When Connecticut issued bonds in June of 2018, the bond covenant said Connecticut would strictly adhere to its new $1.9 billion bonding cap until 2023 — with no changes to underlying statutes and no exceptions. However, language contradicts the legislature’s loosening of the bond cap in May of 2018, allowing ...
As his term concludes, it’s entirely predictable that Governor Malloy would seek to shape his legacy for the history books. But the “spin” in his recent op/ed for the Hartford Courant is so dizzyingly incomplete and inaccurate in important respects that it warrants a response.
Connecticut ranked 49th in the country in a new analysis of state fiscal health by Truth in Accounting, due to its massive taxpayer burden of $53,400 per person and, once again, earned the organization’s label of a “sinkhole state.”
If nothing had changed, Connecticut would not be trapped in the situation it is now. But Connecticut also allows collective bargaining agreements to supersede state law, allowing subsequent SEBAC agreements to once again underfund state employee pensions.