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Tuesday, September 05, 2017

Malloy Offers Big Compromise to End CT Budget Gridlock

By Keith M. Phaneuf and Jacqueline Rabe Thomas

Gov. Dannel P. Malloy has offered a major compromise to end the state budget standoff, scaling back his proposed shift of teacher pension costs to cities and towns by half.

Malloy, who originally suggested communities cover one-third of the fastest-growing expense in the state budget, told The Mirror today he would accept their contributing only the costs tied to present-day teachers.

The massive-and-rapidly growing unfunded liability — compensating for decades’ worth of contributions not made by past governors and legislators — would remain the state’s responsibility.

And while the governor said he remains committed to a new, two-year state budget that does not “lead with revenue” to close major projected deficits, he is willing to discuss revenue options to hasten an agreement.

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Posted 09/05/17 at 04:40 PM  Permalink


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