Category: Money & Financial

The budget adjustment does not contain any tax increases, a critical requirement that Republicans insisted on.

The budget is the result of bipartisan negotiations and represents a compromise between Republican and Democrat lawmakers to update the bipartisan state budget that passed last year.

This revised plan fully balances next year’s budget, reduces future deficits, restores funding for the core functions of government, and does not include any new tax increases.

The Republican proposal fully balances the fiscal year 2019 budget and eliminates the projected $321.5 million deficit.

Senate Republican President Pro Tempore Len Fasano (R-North Haven) released the following statement in response to Governor Dannel P. Malloy’s veto of the bipartisan bill that restores funding for the Medicare Savings Program in the current fiscal year.

MSP is a Medicaid program that helps seniors and the disabled pay for Medicare co-insurance, deductibles and premiums. Connecticut was one of five states whose income eligibility limits exceeded the federal minimum level.

The plan passed the Senate 33-3 Wednesday evening and by 126-23 in the House of Representatives on Thursday. The budget awaits action from the governor.

The Democrat legislative leaders’ budget proposal, which does not have enough support to pass the legislature, would cut education funding in North Haven by $3 million and cut overall municipal aid to North Haven by a whopping $5.3 million over two years.

Governor’s actions irresponsible to schools, municipalities.

This bipartisan budget avoids a $1.5 billion tax increase, preserves core social services, keeps commitments to local education, provides stability for municipalities, does not increase taxes on non-prescription medications and rejects Governor Malloy’s proposed shifting of teacher pension costs onto towns and cities.