Connecticut Comptroller Kevin Lembo wants the state to change the way it puts away money for a rainy day.
Much of Connecticut’s rainy day fund depends of a volatile source – the sometimes higher than expected revenues generated by corporations and the state’s wealthiest residents, who make money on Wall Street, and file quarterly returns, Lembo said.
"Historically, the way we make a deposit into the rainy day fund is we wait until the end of the year and we see what’s left and then, maybe, most, or all of it gets deposited into the rainy day fund,” said Lembo.
The New York State Department of Environmental Conservation has approved the town of Islip's plan to clean up 50,000 tons of toxic debris that was illegally dumped in Roberto Clemente Park in Islip last year. It was laced with asbestos, pesticides, and other toxic material.
The Long Island town's plan to clean up the park requires digging up and removing all the debris and then sampling the soil at the end to confirm the contaminants have been removed. The town will also install wells to monitor groundwater.
New York Gov. Andrew Cuomo speaks to reporters about a property tax credit proposal after a speech, Wednesday, Jan. 14, 2015, at Hofstra University, in Hempstead, N.Y. Cuomo said cutting property taxes will be a top priority during his second term.
Calling it the "major problem facing the state," Governor Cuomo announced a plan to reduce New York’s highest in the nation rate of property taxes for some homeowners. But the program was not received with open arms by everyone.
Under Cuomo’s proposal, homeowners who pay 6 percent or more of their annual paychecks in taxes, will get a credit on their tax bills. Renters will also receive an equivalent credit.
The New York state Senate convenes on the opening day of the 2015 legislative session at the Capitol on Wednesday, Jan. 7, 2015, in Albany, N.Y. The Republican-controlled Senate has approved eight bills intended to ensure women's rights in the workplace and housing but excluded a ninth measure to codify abortion rights that the Democrat-controlled Assembly supports.