Senate Democrats and Senate Republicans Reach Power Sharing AgreementPosted: Dec 29, 2016
The ink was barely dry on the Appropriations Committee's $19.9 billion alternative 2017 budget Wednesday when Governor Malloy announced that it did not cut spending deep enough...
Gov. Malloy and State Employee Unions Reach Agreement on PensionsPosted: Dec 09, 2016
Gov. Malloy and State Employee Unions Reach Agreement on Pensions That Will Support the Employee Retirement System While Strengthening the State's Financial Obligations...
Apprenticeship Tax CreditPosted: Jun 09, 2016
Comptroller Kevin Lembo had proposed a legislative measure to benefit businesses and all taxpayers by establishing a more efficient and effective analysis of whether hundreds of millions of dollars in economic incentives provided to businesses are fulfilling their intended purpose.
Presentation at Legislative Roundtable May 26, 2016Posted: May 26, 2016
2016 Legislative Session Final Report.
Barnes Affirms Major Increase in 2016 Deficit ( February 26, 2016)Posted: Feb 26, 2016
One day after the Legislature’s nonpartisan fiscal experts projected a more than ten-fold increase in the 2016 budget deficit, or $266 million, over that projected by the administration, roughly $20 million, Ben Barnes, the administration’s budget chief told the Finance Committee that the new numbers more accurately depict the current year shortfall.
Announcement from Governor Malloy (February 10, 2016)Posted: Feb 10, 2016
Governor Dannel P. Malloy and Lt. Governor Nancy Wyman today announced that they will hold a town hall forum in Middletown on the evening of Tuesday, February 16, 2016, to discuss his budget principles, his proposals for adapting state government to a changing economy, and other issues concerning the future of the state.
Governor's 2017 Midterm Budget Revisions (February 3, 2016)Posted: Feb 03, 2016
Governor delivers on promise to revamp budgeting process, cutting and consolidating appropriations and giving agencies new discretion over spending.
Tax Panel Presents Report to FRB (January 29, 2016)Posted: Jan 29, 2016
Finance, Revenue and Bonding Committee hears summary of tax panel report.
Tax Panel Issues Recommendations (December 15, 2015)Posted: Dec 15, 2015
Tax Panel Issues Final Recommendations for General Assembly’s Consideration to Make Connecticut More ‘Stable, Equitable, Competitive’.
Special Session Deficit Fixes (December 8, 2015)Posted: Dec 08, 2015
The Connecticut General Assembly this evening passed, largely along party lines, a bill aimed at covering a projected current-year deficit of $350 million employing a combination of spending cuts, fund transfers and tax changes.
Special Session of Legislature (December 4, 2015)Posted: Dec 04, 2015
Governor Malloy today officially called the Legislature into Special Session at 10 a.m. Tuesday, December 8th, to “adopt legislation that reflects the bipartisan efforts and significant areas of common ground between Democrat and Republican leaders that will address our projected shortfall without imposing new taxes or using the resources of the Rainy Day Fund.”
Senate Democrats Release New Plan to Tackle Budget Deficit (November 19, 2015)Posted: Nov 19, 2015
The Senate Democratic Caucus today released its plan to preserve valuable programs and provide structural change to Connecticut’s state budget. Senate Democratic leaders released the details of their proposal after a meeting of the caucus.
Tax Panel Nears Completion of Work (November 17, 2015)Posted: Nov 17, 2015
The State Tax Panel today heard presentations from the remaining group of experts in the areas of property tax relief, taxation upon transfer of property, and probate fees.
Democratic Leaders Offer $350 million in Cuts (November 16, 2015)Posted: Nov 16, 2015
Democratic legislative leaders today offered some $350 million in cuts to address the projected 2016 budget deficit.
Democratic Leaders to Craft Deficit Mitigation Plan (November 13, 2015)Posted: Nov 13, 2015
House Democrats held a Friday the 13th caucus to get feedback on deficit mitigation proposals put forth by the Governor and GOP leaders yesterday and to begin formulating their own cost-cutting contributions to the ongoing bipartisan roundtable discussions.
Governor, GOP Leaders Offer New Savings Plans (November 12, 2015)Posted: Nov 12, 2015
GOP leaders and the Governor’s office today offered additional suggestions to address the budget deficits that continue to haunt the state.
Consensus Revenues Project Growing Red Ink (November 10, 2015)Posted: Nov 10, 2015
The Legislature’s Office of Fiscal Analysis and the Governor’s Office of Policy and Management today released consensus revenue estimates for the current fiscal year (2016) as well as 2017 and 2018 and the outlook is not rosy.
Biz Panel Gets Primers on Unitary Reporting, Taxes (November 5, 2015)Posted: Nov 05, 2015
Acknowledging that the Legislature “took a giant step backward” by not seeking input from the business and corporate community before they adopted the original budget back in June, House Speaker Brendan Sharkey today asked the Economic Competitiveness Commission (ECC) if they would be “on call, in real time” to provide input on the options currently under consideration for solving the deficit problem.
Comptroller Pegs Deficit at $118 Million in 2016 (November 2, 2015)Posted: Nov 02, 2015
State Comptroller Kevin Lembo today affirmed that, after accounting for the $102.8 million in rescissions announced in September by Governor Malloy, the state is on track to end the current fiscal year with a $118.4 million deficit.