CT Income Lagging

According to a new report from the Pew Charitable Trust, personal income growth in Connecticut continues to lag the rest of the nation.

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Commission Begins Work

The special commission appointed by the legislature to consider Connecticut's competitiveness and fiscal issues has begun its work with a March 1 deadline to report back with recommendations.

At the opening meeting, the president and CEO of Stanley Works made a presentation on the state of the economy.

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Happy Days, Not Here Again

The state of Connecticut got a surprise windfall of $900 million in quarterly tax receipts at the end of the year, but already experts are warning it is not a sign of a trend and the law says most of it must go to the Rainy Day Fund rather than current deficit mitigation.

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2018 Potentially Pivotal

The combination of a growing state deficit, an election year, and the business sector perception that there is no long term vision for the management of Connecticut state government could lead to fundamental changes in the coming year. Or, none at all.

There is a growing consensus among observers of Connecticut government that the main threat to the state's economy is the sense in the private sector that the state legislature is lurching from crisis to crisis and has been for years. With this as background there is incentive for the legislature to make an effort to send signals that it is willing to commit to a more thoughtful approach.

One of the first tests will come next month when Governor Malloy presents his final budget proposal. He is expected to offer lawmakers a clear eyed forecast of the challenges state government faces and offer some very difficult choices about how to deal with them. At the same time, a legislatively created commission is expected to put forward recommendations by March 1 that will be described as necessary, but politically unpopular.

Which way the legislature decides to go is a policy decision that could make 2018 pivotal for the state's economy.

 

Fiscal Commission Meets

The newly formed Commission on Fiscal Stability and Economic Growth will hold its first meeting today(Friday). The 14-member group was created as part of the bipartisan state budget and will be responsible for developing and recommending policies to achieve state government fiscal stability and promote economic growth and competitiveness within the state.

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Pt. 3 - CT vs. MA Education

This week's concluding article in a series on education in Connecticut from CTMirror.org.

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MA vs. CT Education, Pt. 2

Part two of a three part series from CTMirror.org on education spending and results in Massachusetts and Connecticut.

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Education Comparisons

The CT Mirror is publishing a three-part series this week comparing the bang for the buck Massachusetts gets in the field of education vs. Connecticut.

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Traffic Jam

Governor Malloy is warning that the state's transportation budget is in serious crisis and may require big increases in fuel taxes to remain solvent. The other alternative is to dramatically curtail projects he considers vital to the state's transportation system and economy.

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Deficit Talks

Less than two months after it was approved, the new state budget is already more than $200 million in the red and the governor will meet this week with top legislative leaders to try to figure out what to do about it. A special session before February is possible.

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Stem Tax Credit

A tiny tax credit aimed at graduating STEM students could be just the type of incentive necessary to help keep top college students in Connecticut after graduation.

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A Budget in Trouble

It is becoming clear the recently approved state budget is leaking less than a month after it was approved.

The spreading red ink is proof to some that the spending plan put together over a period of ten months does not present long-term solutions to the state's fiscal challenges.

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Special Session Already?

Less than a month after the legislature ended a ten month budget stalemate, Governor Malloy says lawmakers need to come back into special session to deal with a projected deficit of more than $200 million.

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Santy: Not Out of Woods

We have a state budget! But we’re not nearly out of the woods yet. A new round of projected deficits is just over the horizon, and if prompt and substantial action isn’t taken, we’ll go through this again, and again.

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Low Expectations

According to the Connecticut Economic Resource Center, state residents increasingly believe that overall business conditions in Connecticut are worsening, and an increasing percentage – now nearly half - expect that conditions will be about the same six months from now. More people believe that business conditions will continue to worsen than are of the view that they will improve.

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Good and Bad from Moody's

Moody's says having a state budget in place is good for Connecticut, but the details are bad for the University of Connecticut.

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Continued Budget Analysis

The chief economist for the Connecticut Business and Industry Association says the recently passed, bipartisan budget, is a step in the right direction and serves as a good sign for the future.

Pete Gioia, is also a member of the CT21 board.

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One Analysis

One week after Connecticut's longest budget crisis came to an end, it is right to ask lawmakers and candidates for office what's next? How do we avoid such a stalemate in the future by taking a long-term approach to state finances and economic growth.

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Watching for What's Next

One week after the passage of a new two year budget, state officials and budget analysts are not sure whether the new spending and tax plan will actually work, in the short-term or the long-term.

Big Deficits? - CT Mirror

Too Soon to Tell - CT News Junkie

Now What?

A ten month budget stand off is over and Governor Malloy has reluctantly signed a new budget into law, but the question remains what are the long-term implications of the new spending plan?

In three months, if not sooner, lawmakers will be back at the capitol to make further adjustments to the budget. 2018 is an election year making it more difficult to reach agreement if there are any issues in dispute, or if the budget falls into deficit.

Meanwhile, the Connecticut business community is closely considering the details of the new budget to see if it provides policy clarity for the future.   

Deal?

Early Tuesday morning legislative Democrats and Republicans announced they had a budget deal that might be voted on later this week.

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Poll On CT Attitudes

A new poll from Sacred Heart University shows people are worried about the state of Connecticut government, concerned about the future and willing to consider various new forms of taxes and revenue to get things on the right track.

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Call for Regionalism

Greg Bordonaro, the editor of the influential Hartford Business Journal, says this year's long-running state budget drama shows regionalism in local government is an issue that can no longer be ignored. He asks readers to imagine Hartford, East Hartford and West Hartford as one municipality for starters.

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Wrong Signal

Governor Malloy says the on-going state budget stalemate - now passing the 100 day mark - is hurting the state's economy. Malloy says business leaders are delaying decisions about expanding, or moving to Connecticut because they don't know what's next.

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