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Sunday, May 04, 2014

Legislature Adopts New CT Budget Built on Risky Assumptions

By Keith M. Phaneuf, Jacqueline Rabe Thomas, and Arielle Levin Becker

www.ctmirror.org

UPDATE The General Assembly early today adopted a $19 billion budget that, to stay in balance, relies on about $200 million in fund sweeps, risky savings and revenue assumptions -– including the last-minute discovery of $75 million in “miscellaneous” tax receipts.

The package for 2014-15, negotiated by Gov. Dannel P. Malloy’s administration and majority Democratic legislators, boosts spending by 2.5 percent while delaying planned tax cuts for teachers and consumers and canceling the launch of keno gaming.

It also expands municipal aid by almost $82 million, provides special relief for public colleges and universities while adding 1,020 pre-kindergarten program slots.

And while majority Democratic legislators insisted the plan is lean, balanced and reflects their top priorities, Republicans charged that gimmicks threaten the state’s future.

Click here for more of story

05/04/14 12:30 AM Comments (1) • Permalink Digg Favicon Email Favicon Facebook Favicon LinkedIn Favicon TwitThis Favicon
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