State Budgets 2012: Connecticut

 

Connecticut


To see more state budget news and information, visit State Budgets 2012

Budget Background:

  • Fiscal Year Begins: July 
  • Frequency of Legislative Cycle: Annual
  • Legislative Session for 2012: 

    Convened February 8, 2012 

  • Frequency of Budget Cycle: Biennial

Learn more from the National Association of State Budget Officers

 

Budget News and Information: 2012

 

4/3/12: After big increase last year, Finance panel steers clear of taxes for now

One year after legislators and Gov. Dannel P. Malloy imposed $1.6 billion in new state and municipal taxes, the General Assembly's Finance panel held the line Tuesday, wrapping up its work for the session without adopting any tax changes. But while the Senate chairwoman of the Democratic-controlled panel hailed the inaction as a promise honored, minority Republicans said they'll remain wary of new efforts to raise revenue until the 2012 session ends in five weeks.

Read More: CT Mirror


4/2/12: Lembo says April revenue forecast could determine fate of growing budget deficit

The game of ever-shifting state budget forecasts took another new twist Monday as Comptroller Kevin P. Lembo announced a worsening deficit that largely matches the shortfall reported by nonpartisan legislative analysts. Both offices now say Gov. Dannel P. Malloy -- who continues to project a small surplus -- will need to find roughly $115 million over the next three months both to finish in the black and to maintain his promised conversion of state finances to Generally Accepted Accounting Principles, commonly known as GAAP.

Read More: CT Mirror


3/29/12: Appropriations panel reverses health cuts, transit fare hikes

Despite fiscal constraints, the Appropriations Committee restored funding Thursday for health care for the poor and the University of Connecticut Health Center, canceled a second wave of transit fare hikes and rejected several agency mergers sought by Gov. Dannel P. Malloy's administration. The plan the Democratic-controlled committee adopted in a 34-15 vote along party lines also restored two crucial posts for the state's top elections watchdogs and preserved separate grants for more than a dozen of the state's top tourism attractions. Republicans tried unsuccessfully to amend the committee proposal with their own plan, which would spend about $340 million less, but offer modest income and sales tax cuts.

Read More: CT Mirror


3/29/12: GOP says it can cut budget and still offer modest tax relief

Minority Republican legislators insisted Thursday they can shave more than $340 million off Gov. Dannel P. Malloy's budget plan for next year, add more than 160 new state troopers and still provide modest income and sales tax breaks next fiscal year. But later Thursday, the Appropriations Committee, in a 30-15 party-line vote, rejected the plan.

Read More: CT Mirror


3/28/12: Spending cap, deficit projection, limit options for budget

The legislature's budget-writing committee is expected to make few major changes Thursday as it reports out Gov. Dannel P. Malloy's $20.7 billion proposal for the fiscal year that starts July 1, finding itself largely constrained by the constitutional spending cap and a projected deficit 15 months away. "We've tried to fix any of the holes we think we see in the budget, but we're trying very hard not to go too far from the governor's bottom line," said Sen. Toni N. Harp, D-New Haven, co-chairwoman of the Appropriations Committee. "With the cap, it's going to be tight."

Read More: CT Mirror


3/27/12: Malloy will ask lawmakers to make emergency cuts if deficit lingers into May

Gov. Dannel P. Malloy warned his department heads Tuesday he will ask lawmakers to consider emergency spending cuts in May if the administration cannot erase a small deficit in the current state budget -- which closes on June 30 -- over the next month. "I just ask you to take every step you can," the governor told commissioners at their monthly meeting. "I know everyone is struggling. I understand that. But we have a goal."

Read More: CT Mirror


 

3/20/12: Revenues shrinking, but Malloy still projects a surplus

Gov. Dannel P. Malloy's administration recognized shrinking tax revenues in its latest budget forecast Wednesday, yet remained the only entity still projecting that state government will wrap up the fiscal year in just over three months in the black. In a report filed Wednesday with the comptroller's office, the governor's budget agency did note that the new $12.4 million surplus projection in the general fund falls $62.6 million short of the level needed to continue the ongoing conversion of state finances to Generally Accepted Accounting Principles.

Read More: CT Mirror


3/9/12: Local officials make appeals to state lawmakers

Local leaders from throughout the state on Wednesday met with the Legislature's budget-writing Appropriations Committee in an attempt to assure continued state aid and a reduction in costly mandates.

Read more: CT Post


3/8/12: Partisan battle lines drawn over spending cap debate

Democrats on the Appropriations Committee lined up Thursday behind Gov. Dannel P. Malloy's proposal to place more state expenditures outside Connecticut's constitutional spending cap, while Republicans criticized the changes as evidence of deteriorating state finances.

Read More: CT Mirror


3/1/12: Connecticut comptroller predicting bigger state deficit

State Comptroller Kevin Lembo is now projecting a bigger deficit in the state budget. In his monthly report this morning to Gov. Dannel P. Malloy, Lembo said the state’s $20.1 annual billion budget is running a deficit of $95.7 million under Generally Accepted Accounting Principles. That is a $22.1 million erosion from last month.

Read More: The day.com


2/24/12: Connecticut budget deficit debate: $160 million or $40 million?

The non-partisan Office of Fiscal Analysis is projecting a growing deficit in the general fund to $160 million with just over four months to go in the current budget, but the administration says it is closer to $40 million.

Read More: New Haven Register


2/21/12: Malloy Budget Drawing Fire On 'Gimmicks'

A $700 million bond sale in November gave Connecticut the money to build schools, fix roads and repair sewer systems. The sale came with something else: a $65 million upfront payment that helps Gov. Dannel Malloy, a Democrat, balance the budget, but also results in higher interest costs for future governors.

Read More: Wall Street Journal

  


Budget News and Information: Previous Budget Cycles  


6/7/11: House passes bill to balance state budget

The Connecticut House of Representatives passed a wide-ranging budget bill early this morning that included Gov. Dannel P. Malloy’s plans to close a $400 million gap in the two-year, $40.1 billion budget lawmakers passed in May.

Read More: Norwich Bulletin


5/5/11: Connecticut’s Budget Is Done, but Governor’s Work Is Not

Moving from Gorilla A to Gorilla B, Gov. Dannel P. Malloy on Wednesday signed into law a $40.1 billion budget that includes the largest tax increase in Connecticut history, then headed toward a Friday target for extracting $1 billion in annual wage and benefit concessions and program cuts from more than 45,000 state employees.

Read More: The New York Times


3/22/11: Conn. lawmakers consider tax on electricity generators as critics cite rising cost of power

Connecticut lawmakers are set to vote on a new tax on generators of electricity to provide relief for ratepayers, finance alternative energy systems and raise revenue.

Read More: Washington Post


3/21/11: Friendly Crowd Wants Malloy To Tax Business And The Rich

A largely friendly crowd of union members and Democrats came out Monday night to greet Gov. Dannel P. Malloy in Hartford – a city that supported him by more than 7 to 1 in the election as he became the first Democratic governor in two decades.

Read More: Hartford Courant


 2/16/11: Connecticut governor unveils $17.9 billion budget, same size

(Reuters) - Connecticut Governor Dannel Malloy on Wednesday unveiled a $17.9 billion budget plan for the new fiscal year -- about the same size as the current accord -- and called on public employees and taxpayers to share in the pain of closing a $3.2 billion deficit.

Read more: Reuters