Connecticut budget

Johnathon Henninger

In a surprise move, the Connecticut General Assembly has voted in favor a Republican budget proposal. The bill passed the state House of Representatives by a vote of 78-72 early Saturday morning and the Senate by a vote of 21 to 15 on Friday.

This is a major defeat for state Democrats. They hold a majority in the House and an 18-18 tie in the Senate, with Democratic Lt. Governor Nancy Wyman as a potential tie breaking vote.

(AP Photo/Jessica Hill)

 

An attempt by Democrats in the Connecticut legislature to pass a budget collapsed late last night. 

Democratic leaders had high hopes on Thursday of finally being able to pass a budget that’s more than 2 months overdue. After lawmakers spent the whole day at the capitol waiting for the debate to begin, by 11:30 p.m. it was evident that the Democrats were not able to bring up the bill.Senate Democratic President Martin Looney of New Haven says they couldn’t get the documents prepared for a vote.

AP Photo/Jessica Hill

House Speaker Joe Aresimowicz, a Democrat from Berlin, says an increase in the Connecticut sales tax from 6.35 percent to 6.85 percent is needed in order to balance the state’s two-year-budget. That budget is already seven weeks late.  

The town of North Stonington is flying the Connecticut State flag upside down at its town hall. The town’s Republican leaders are protesting Democratic Governor Dannel Malloy’s proposed cuts to cities and towns.

Sean Murphy is First Selectman of North Stonington, one of the many cities and towns facing big cuts in the money it gets from the state.

“The flag flying upside down on the pole indicates being in distress and I think that is a mild term for the current situation that we have at the Capital.”

David Karp / AP

A bill before the Connecticut General Assembly's Finance, Revenue and Bonding Committee would place a tax on hedge funds. For some Democrats in Connecticut, the idea is simple: hedge funds have the money and they already get a tax break, so the state could plug budget holes with a 19 percent surcharge on investment companies.

Supporters of the bill, including Committee Vice Chair Rep. Josh Elliott of Hamden, say it would raise $535 million a year, and effectively close the tax loopholes investment managers get from the federal government.

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