Capitol Corner

Capitol Corner

We've got our eye on happenings at the Capitol! If state or federal legislation or activity will affect you, your company, or your clients, we'll keep you updated here.


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State News

Hartford Courant: Connecticut State Senate Approves Changes to State Budget - House to Vote Wednesday
The state Senate voted unanimously Tuesday in special session on budget fixes for the controversial hospital tax and renters’ rebates for the elderly and disabled.
Hartford Courant: State Deficit Reaches $178M
The new state budget was signed on Halloween, but the deficit is already projected at more than $178 million for the current fiscal year.
Regulators Approve Workers' Comp Premium Rate Cuts
Connecticut employers will see their workers' compensation insurance premiums decrease in 2018 for the fourth consecutive year.
State Retirement Plan Mandate Delayed Indefinitely
Connecticut has officially delayed implementation of the state's controversial retirement plan mandate.
Hartford Courant: Malloy Signs Portions of the Budget Bill But Rejects Hospital Tax
Gov. Dannel P. Malloy quietly signed the two-year, $41.3 billion state budget bill Tuesday, but he used his power to veto a section of the nearly 900-page document that related to the controversial hospital tax.
Hartford Courant: What's in the Two-Year Budget
From mayors and energy advocates to senior citizens and teachers, the new two-year, $41.3 billion state budget provides a wide variety of pluses and minuses.
House Approves Bipartisan Budget With Veto-Proof Majority
Gov. Malloy has not said whether he will sign the measure into law, but the margins of victory in both chambers were wide enough to withstand a gubernatorial veto.
Senate Praises Bipartisan Budget, Sends It to House
The state Senate’s 33-3 vote Thursday morning on a $41.34 billion, two-year budget may be one of the final steps in ending an historic four-month budget stalemate. Sens. Gary Winfield, Joe Markley, and Len Suzio voted against the budget.
CT Mirror: Malloy criticizes budget outline
Two days after House and Senate leaders announced an agreement in principle, questions abound about the depth and breadth of spending cuts, the distribution of municipal aid, the source of new revenues, and the extent to which collective bargaining and other labor laws will be changed.
CT Mirror: Legislators announce tentative, bipartisan budget deal
State legislative leaders declared Wednesday they had crafted the framework of a bipartisan deal to end Connecticut’s 110-day budget impasse, while conceding some key details, including distribution of town aid, remained to be resolved.

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Federal News

Trump Tracker! Surgent's Trump Tracker, inspired by The New York Times, tracks the status of all changes proposed by President Trump that could affect CPAs and their clients in a user-friendly format that makes it clear where a change currently stands.

 

U.S. House of Representatives Passes Tax Cuts and Jobs Act Bill by Vote of 227–205
The U.S. House of Representatives passed the Tax Cuts and Jobs Act bill, H.R. 1, by a vote of 227–205, on Thursday afternoon, with all Democrats and 13 Republicans voting no.
3 Ways The House And Senate Tax Bills Differ
As the Republican-controlled House continues to make hurried, last minute edits to its tax reform bills before bringing it to a vote, politicos around the nation and the broader world are wondering how said bill will shape up once it’s been through the brutal legislative process. On the top of most bill-watcher’s minds are the variations in the House and Senate’s differing reform bills, which have many onlookers scratching their heads trying to sort out the differences between the two.
Details of tax reform legislation revealed
The House Ways and Means Committee released draft tax reform legislation on November 2. The Tax Cuts and Jobs Act, H.R. 1, incorporates many of the provisions listed in the Republicans’ September tax reform framework while providing new details.
GOP effort to repeal Obamacare dies, but Murphy expects new challenges
While GOP Senate leaders threw in the towel Tuesday on their latest attempt to repeal and replace the Affordable Care Act, Sen. Chris Murphy said he expects new challenges to the Obama-era health care law. Read more from The Connecticut Mirror.
Tax Reform Framework Expected Next Week
Discussions are ongoing between the administration and Congress on how to reform the tax code. Republican leadership in Congress and the White House plan to release a tax reform framework next week. The contents of the framework and to what extent it will focus on policy remains to be seen.
Senate Budget Committee Weighs Tax Cuts Totaling $1.5 Trillion
Senate Budget Committee member Ron Johnson said the panel is considering a budget that would allow for $1.5 trillion in tax cuts that would add to the deficit on a so-called “static” basis over the next 10 years.
The Fed, a Decade After the Crisis, Is About to Embark on the Great Unwinding
The Federal Reserve resorted to a series of shock-and-awe stimulus campaigns to stabilize the economy after the financial crisis. Now the Fed is preparing the final move to unwind its support—and it wants to be as boring as possible.
Military Spending Measure With Billions For Conn. Wins Senate Approval
A nearly $700 billion military spending measure, with billions for Connecticut manufacturers of submarines, jet engines and helicopters, won U.S. Senate backing Monday.
New push to replace Obamacare reflects high stakes for Republicans
A final GOP effort to dismantle the Affordable Care Act burst into view this week in the Senate, where leaders began pressuring rank-and-file Republicans with the hope of voting on the package by the end of the month.
White House Puts EEOC's Pay Data Collection Rule on Hold

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