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Lembo pushes back on Malloy's prediction of budget surplus
Connecticut's chief fiscal watchdog slammed the brakes Tuesday on Gov. Dannel P. Malloy's assertion that the new state budget is on its way to another surplus. Comptroller Kevin P. Lembo concluded in his monthly budget assessment that state finances for this fiscal year — which began July 1 — are on track to end "approximately in balance."
Women Get Ready For November
There are a record number of female candidates running for office in Connecticut this year. Of the 243 grants clean election grants awarded this year, 101 went to female candidates. But will that mean more women will win elected office? That won’t be clear until Nov. 7.
Malloy Appeals FEMA Denial of Assistance for May Tornadoes
Gov. Dannel P. Malloy this week filed an appeal with the Federal Emergency Management Agency to reconsider its decision denying individual assistance to homeowners in New Haven and Fairfield counties who suffered losses from severe storms on May 15.
Connecticut starting to beef up its meager fiscal cushion
Next month, Connecticut will officially record its largest budget reserve in a decade — but $1.2 billion doesn’t go as far as it used to. According to a new analysis of all states’ rainy day funds released this week by the Pew Charitable Trusts, Connecticut’s reserve would leave it in the middle of the pack, when it comes to readiness for the next economic downturn.
Accounting Today: Connecticut issues guidance on pass-through tax credit
The Connecticut Department of Revenue Services released guidance this week on the recently enacted Pass-Through Entity Tax Credit, which state lawmakers approved this spring as a way to get around limits in the new federal tax law on state and local tax deductions.
DRS Issues Guidance Regarding the Passthrough Entity Tax Credit
This preliminary guidance is intended to provide information to partners about the credit available under the Pass-Through Entity Tax (“PE Tax”). This guidance may be updated as needed to answer additional questions.
2019 Fiscal Year Starts in the Black
The 2019 budget is off to a good start, but it’s a long way to June 30th. Secretary of the Office of Policy and Management Ben Barnes reported Monday that state is on track to end the fiscal years in the black. After the first month of the 2019 fiscal year, the state is running a $138 million surplus.
Connecticut Has a Surplus - For Now
State government’s new budget year is off to a healthy start, but there’s good news and bad news in the numbers. Gov. Dannel P. Malloy’s administration announced Monday that state finances have been running almost $138 million in the black since the fiscal year began on July 1.
Malloy keeps up the pressure for transportation rebuild — and tolls
Undaunted by a lack of interest from state legislators and most gubernatorial candidates, Gov. Dannel P. Malloy continues to try to keep Connecticut focused on rebuilding its aging, overcrowded transportation system. The governor, who is not seeking re-election, used Monday’s announcement regarding one highway project in Waterbury to urge residents to demand more investment in transportation once he’s left office.
Market Appreciates Connecticut’s New Found Fiscal Discipline
Connecticut’s new found fiscal discipline and increased rainy day fund revitalized interest from bondholders when Connecticut sold $889.2 million in general obligation bonds last week. “While we have a ways to go, the municipal finance marketplace has taken notice that Connecticut’s fiscal position has turned a corner,” State Treasurer Denise Nappier said.

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