Connecticut borrowed over $700 million from the federal government to bolster its underfunded Unemployment Insurance Trust Fund after the forced closure of businesses during the COVID-19 pandemic put hundreds of thousands of people out of […]
Rep. Toni Walker
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 today approved a bill to increase the state’s minimum wage to $15 per hour by 2022, costing the state an additional $40 million per year and costing municipalities up to $1 million […]
Early reports of budget recommendations from Connecticut’s Appropriations Committee showed the Committee rejected Gov. Ned Lamont’s proposal to force municipalities to cover a portion of the state’s teacher pension costs. But that major point of […]
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.
