Plummeting state income tax collections are experiencing their worst decline since the last recession, falling $450 million below anticipated levels for April — one-and-a-half times the free fall projected just one day ago. That adds $1.1 billion to an already daunting $3.6 billion deficit forecast, all but shattering hopes of avoiding tax increases or big […]
The Mohegan tribe has secured $80 million in financing to proceed with plans for an expanded convention center, the Mohegan Tribal Gaming Authority said this week. The MTGA, which owns and operates the Mohegan Sun in Uncasville, first announced the proposed expo adjacent to the casino in March and says it will open by the […]
Gov. Dannel P. Malloy will not seek re-election to a third four-year term. In an afternoon announcement in the Capitol more than six years after taking office, Malloy, 61, is expected to say that freedom from politics will allow him to steer the General Assembly through its budget crisis. With low popularity ratings, a $1.7-billion […]
President Donald Trump shocked organized labor by saying he would soon have an announcement on a law that guarantees wage levels for workers on most federally funded construction projects. The White House has since declined to reveal his position publicly. But privately, Trump administration officials appear in recent days appears to be trying to calm […]
Trump’s plan, expected to be released as early as May, has already faced months of skepticism from some conservative deficit hawks — even though it’s likely to call for far less direct federal spending than its eye-popping price tag implies. Meanwhile, Democrats are crying foul at suggestions that the blueprint will include hefty tax breaks […]
President Trump wants a couple of his fellow New York billionaire real estate developers to oversee his plans to spend $1 trillion to improve infrastructure. The plan to spend $1 trillion repairing highways, bridges, roads, airports, dams and other infrastructure, a centerpiece of Trump’s plan to boost hiring and the economy, still needs approval by […]
Work will begin this summer to convert what is now the high school’s auxiliary gymnasium to house the shops while construction on the $130 million project to renovate and rebuild the school is underway. Having received the Board of Education’s approval this week of revised educational specifications and the final Phase 2 plans for the […]
The Midwest Economic Policy Institute published a report entitled, “Prevailing Wage and Military Veterans in Connecticut”. CT’s Construction Industry employs thousands of our returning veterans. Prevailing Wage protections are vital to the financial independence of our blue-collar veteran families. https://midwestepi.files.wordpress.com/2016/06/policy-brief-prevailing-wage-military-veterans-in-connecticut.pdf
State Comptroller Kevin Lembo said slow income tax withholding has forced him to predict the state will end the year with a $44.6 million budget deficit. He agreed with the nonpartisan Office of Fiscal Analysis that revenues would fall about $60 million short of projections. Lembo pointed out that Connecticut’s overall budget performance is ultimately […]
Electric Boat, the Groton-based subsidiary of General Dynamics Corp., is ramping up to build two subs a year, with the start of design of the Columbia-class ballistic missile submarine. More than 5,000 firms in the U.S., including nearly 450 in Connecticut, supply parts. In Connecticut, where the number of low-paid jobs are increasing faster than […]
