A new annual report from Truth in Accounting found Connecticut has $67 billion in bonded debt and unfunded retirement costs, making it the third most indebted state per taxpayer in the nation. The total debt, which amounts to $50,700 per taxpayer in the state, is based on Connecticut’s 2019 financial ...
The Connecticut Business and Industry Association on Monday issued a statement saying that although infrastructure is important to Connecticut’s economy, the association could not support “adding additional cost burdens, like tolls, on individuals and businesses.” Although CBIA recognized the state needs to improve infrastructure, they faulted the legislature for diverting ...
The steady drip of information and budget ideas from the governor’s office over the past two weeks finally culminated with Gov. Ned Lamont’s first budget proposal, which will be sure to please practically no one. The governor’s plan calls for an expansion of the state sales tax, shifting a portion ...
Governor-elect Ned Lamont will face a daunting task when he and fellow Democratic lawmakers assume full control of the state’s finances in January, according to a newly released report by Truth in Accounting.
What are the major cost driver's of Connecticut's deficit in 2020?
Moody’s Investment Services warned that Connecticut’s debt service, pension liabilities and retiree healthcare liabilities – known as the state’s fixed costs – “will continue to weigh” on the state, even with healthy revenue growth in a report on surging pension liabilities.