[Mr_250]

Originally Posted by bobtn

Mr 250, UTC just got several hundred million from Ct to stay a while. If I recall, it means 5 more years of Sikorsky in Ct, and a few hundred more UTC corp professional spots-per the agreement in order to get the 400 million.

Now that $400 mill will no doubt have to be re-upped as the agreement's term is about to expire.

But it bought some time.

Correct, they will build some new buildings per the agreement. However; they could actually cut jobs and still maintain enough employment to get the tax credits.

Something will happen. I have a funny feeling this new CEO is aligned with the stockholder over the State. UTC Stock price has sank and as soon as this guy was brought up the stock rallied. He has some things up his sleeve and they are NOT favorable for CT. This is total speculation but this article http://finance.yahoo.com/news/united...185817800.html makes it sound like they (UTC) will Sikorsky, move Otis (which moved "management" to FL) and focus more on building systems rather than aerospace.

Originally Posted by BPt111

Malloy could struggle to find cuts </snip>

I also read that he said municipal aid will be cut.

So, less aid from the State equals more burden to town equals more money needed equals property tax increase.

[BPt111]

Foxwoods, biggest US casino, cuts back on gambling

[BPt111]

Governor requesting budget cuts from legislative, judicial branches

HARTFORD — The Malloy administration is asking the legislature to cut approximately $25 million from its proposed budget for 2016 and 2017. The administration is also asking the judicial branch to slash $72.2 million from its two-year budget proposal to help close projected shortfalls for the upcoming budget cycle.
The governor’s Office of Policy and Management made the requests earlier this week based on updated budget numbers form the legislature’s Office of Fiscal Analysis.
The legislature and Gov. Dannel P. Malloy will be setting a two-year budget for the upcoming 2016 fiscal year and the 2017 fiscal year in the upcoming 2015 session that opens Jan. 7.
In September, the OFA submitted a two-year budget plan to OPM that proposed to spend $92.4 million in the first year and $94 million in the second year.
On Nov. 15, OPM and OFA filed budget forecasts for the current fiscal year and the following three years to the legislature’s two budget committees for review.
The OFA report estimated spending requirements for the legislature and the Judicial Department for 2016 and 2017 that were lower than what both branches had proposed in September.
This prompted OPM Secretary Benjamin Banes to request that the legislature lower its spending plan by $11.6 million in 2016 and $13 million in 2017.
Barnes also requested that the Judicial Department cut nearly $29.9 million from its 2016 request and $42.4 million from its 2017 request.
By law, Malloy and OPM must include the recommended budgets that the legislature and the judicial branch submitted in September without any changes in the two-year budget plan that Malloy will be recommending to lawmakers in February.
As a result, Barnes asked both branches to submit revised recommendations to OPM no later than Dec. 19.
In making the requests, he said updated revenue estimates from OPM and OFA suggest significant spending cuts will be required to balance the 2016 and 2017 budget.
In its Nov. 15 forecast, OFA estimated shortfalls of $2.7 billion for the budget cycle — $1.3 billion for 2016 and $1.4 billion for 2017.
The OPM report projected smaller gaps of $1.1 billion for 2016 and $1 billion for 2017.

[BPt111]

I have a feeling Malloy is going refuse to cut the budget and raise taxes in CT even more if it happens say goodbye to companies like RBS, Bridgewater, many others...sales tax increase, income tax increase, property tax increase, gas tax.


or Option B

CT cities going millions of aid money toward their budget like Hartford, Waterbury, Bridgeport which going to face budget deficits next year

[Mr_250]

Malloy won't raise taxes. He legit seems to be cutting spending which is good to see. However, some services might have to be cut or scaled back.

I actually beleive he won't raise taxes.

[Lalalally]

Non-partisan OFA's estimated CT deficit for FY 2015 is ~$1.1 Billion. Projections for 2016 and 2017 ain't much better -- 1 Billion apiece...Of course taxes will be raised
Can someone please send us a life preserver (soon would be great!!)

[Henry10]

I doubt Bridgewater will leave. After its development plans were defeated in Stamford, Bridgewater is re-grouping and re-evaluating.

Bridgewater's biggest asset is its human capital. You just can't pick up, go to North Carolina and think that most of its 2300 employees will come along.

[hartford_renter]

Originally Posted by Henry10

I doubt Bridgewater will leave. After its development plans were defeated in Stamford, Bridgewater is re-grouping and re-evaluating.

Bridgewater's biggest asset is its human capital. You just can't pick up, go to North Carolina and think that most of its 2300 employees will come along.

Companies will leave and companies that would have invested in CT will not.

The tax climate is awful and the spending climate is even worse.

Lets review, we had the largest tax increase in state history and now... we have a 1 billion dollar deficit. By coincidence we learn this after the election, although I don't think it would ever make a difference to the average CT voter.

Maybe we should restrict voting to only those who understand basic economics. You raise taxes companies leave the economy shrinks jobs disappear.

But yeah war on women guns are bad the rich are evil so none of this matters.

[Henry10]

Originally Posted by hartford_renter

Companies will leave and companies that would have invested in CT will not.

The tax climate is awful and the spending climate is even worse.

Lets review, we had the largest tax increase in state history and now... we have a 1 billion dollar deficit. By coincidence we learn this after the election, although I don't think it would ever make a difference to the average CT voter.

Maybe we should restrict voting to only those who understand basic economics. You raise taxes companies leave the economy shrinks jobs disappear.

But yeah war on women guns are bad the rich are evil so none of this matters.

True. CT is more and more looking like California, except the weather. Large welfare class on one hand, wiith crime, blight, poverty, and the wealthy on the other. Working stiffs are getting squeezed and ejected to the South.

[Mr_250]

In the next FY we (CT) will see a big reduction in "Social Services" programs. CT spending cap threatens to squeeze education, other priorities in next budget | The CT Mirror

The more and more I read, the more and more it looks like we (CT residents) are going to shoulder another "fee" hike. It won't be called a Tax Hike. And contrary to what some may think, this extra money will NOT go towards helping the needy. It will be used to maintain obligations (pensions) for State workers. CT just does not have the money coming into the State that Malloy was hoping for.

I see a gas tax (wholesale and retail) and some extra costs placed on businesses in Connecticut.