Democratic state lawmakers in Connecticut have dropped their plans for an across the board sales tax increase to help balance the state’s two-year budget. That budget is more than two months late and is projected to be $3.5 billion in deficit.
The New York State budget has been in place for just under two months, and already there are signs that tax revenues may be significantly lower than expected. Anticipated federal tax reductions later this year may be one of the reasons.
In Connecticut lawmakers ended their regular legislative session on Wednesday without reaching an agreement on the state’s next two-year budget. They are hoping to do that in special session before the end of the month.
New York watchdog groups agree that lawmakers should enact more oversight of the state’s economic development contracts. This push follows a scandal that’s led to nine former associates of Governor Andrew Cuomo being charged with crimes including bid rigging and bribery.