The Capitol Beat –Biden Touts Vote on Budget Framework, Votes Remain Unclear

Before heading to the G20 and Climate Summits with his international counterparts today,  President Biden announced a deal on a budget reconciliation framework.  It remains unclear whether all Democrats are on board and if it is sufficient to garner Progressives’ support.  The framework document, a product of months and months of shuttle diplomacy, includes no …
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Appropriations Committee Approves General Fund Budget

On a largely party-line vote, the Appropriations Committee today approved a two-year General Fund budget totaling almost $42 billion for FY 2022-23, making generous use of federal assistance, unspent Medicaid funding and state surplus money to bolster human services, education and municipal grant programs.  The proposed budget represents a 4.8 percent increase over fiscal year …
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OPM Releases 2021 Deficit Mitigation Plan

Office of Policy and Management (OPM) secretary Melissa McCaw today released a deficit mitigation plan that lays out $200 million in budget adjustments and calls for using $1.8 billion from the budget reserve fund (BRF) to bridge a projected fiscal year 2021 deficit of $2 billion. State statute requires OPM to issue a deficit mitigation …
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OPM Budget Secretary Presents Gloomy Budget Outlook at Appropriations Committee Forum

Governor’s Budget Office Paints Dire Picture for FY 2022-23, Glossing Over Significant Budget Reserve Fund Appearing before the Legislature’s Appropriations Committee today, the Governor’s budget secretary, Melissa McCaw, sounded some cautionary alarms despite healthy budget reserves.  Office of Policy and Management (OPM) Secretary McCaw said that General Fund deficits are projected to be $3.5 billion …
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Governor Offers Snapshot of State’s Fiscal Health

Governor Lamont and his budget director, Melissa McCaw, gave an update on the state’s budget picture at his daily briefing today, as well as an overview of what Connecticut stands to receive from the federal government in COVID-19 relief. The Governor said the state is in “pretty good shape” through the end of the fiscal …
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U.S. Bureau of Economic Analysis: CT GDP Increased to 2.1% in 3Q of 2019

Governor Ned Lamont and Department of Economic and Community Development Commissioner David Lehman today remarked that the administration’s efforts to get Connecticut’s fiscal house in order are succeeding as reflected in the U.S. Bureau of Economic Analysis’ announcement that Connecticut’s gross domestic product (GDP) increased by 2.1 percent during the third quarter of 2019. They …
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