Gov. Dannel Malloy proposed definitions earlier this year to finally implement the 25-year-old constitutional spending cap. His budget chief admitted Monday that, unless lawmakers pass the administrations' proposed definitions, his proposed budget will exceed the existing cap by $153 million.
Gov. Dannel Malloy's budget chief faced a barrage of tough questions Thursday from both sides of the political aisle. None of the lawmakers on the finance, revenue and bonding committee appeared pleased with Office of Policy and Management Secretary Benjamin Barnes.
Gov. Dannel Malloy's budget chief told the appropriations committee Tuesday that, despite a pension agreement between the governor’s office and a group of state employee unions, Connecticut will face “a relatively brutal” increase in pension costs equal to 10 percent of the budget by 2023. The pension deal would essentially refinance the existing pension payments by extending them through 2046 to make up for a $16.5 billion funding shortfall.