Monday, April 25, 2016
By Keith M. Phaneuf, Jacqueline Rabe Thomas, and Arielle Levin Beckerwww.ctmirror.org
Republican state legislators today unveiled a $19.7 billion budget for 2016-17 that would set in motion dramatic cuts to spending and borrowing over the next five years — a blueprint leaders insisted would close massive future deficits without tax hikes.
To do that, though, the GOP minorities in the House and Senate would dilute the two big initiatives Gov. Dannel P. Malloy and the Democratic majority launched last June: a 30-year investment in transportation and a plan to share sales tax receipts with cities and towns.
The Republican proposal would cap general obligation bonding — the pool of financing the pays for municipal school construction, capital projects at colleges and universities, state building maintenance and numerous community-based projects — at $1.2 billion per year, or about 60 percent of the level of financing issued last fiscal year and expected to be issued this year.
The GOP has been increasingly at odds with the Democratic governor over his intensifying use of Connecticut’s credit card, arguing it too frequently is used to cover operating costs from the budget — and not for capital projects.
Posted 04/25/16 at 03:43 PM Permalink