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Union Deal

The Malloy administration and state employee unions have come to an agreement on a concession package both sides say can save the state approximately $1.5 billion over the next two years. It still must be approved by union rank and file.

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Turning Point?

Governor Malloy and state employee unions are reportedly close to a tentative deal that could dramatically reduce the size of the budget shortfall the state faces over the next two years. But questions remain over whether accepting proposed union concessions now come at too high a price. Some are concerned part of the agreement locks the state in to a contract it may not be able to afford long-term.

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CT21 Cites Savings Potential

The Connecticut Institute for the 21st Century is offering updated data which shows there is still the potential to reduce costs by up to $2 billion, over the next five years, if previously proposed reforms from CT21 are fully implemented across state government.

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Jobless Rate

Top economists in Connecticut are warning that April's uptick in the unemployment rate should be taken as a warning sign by state lawmakers. Connecticut continues to lag the region in job creation and that may be a sign of deeper fundamental problems that begin with state policies that are seen as unstable by many in the business community.

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Negotiations Underway

With less than four weeks to go in the regular legislative session, Governor Malloy is reviewing budget proposals presented to him by legislative leaders. At the same time, Malloy is engaged in last minute negotiations to extract concessions from state employee labor unions.

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Why GE Moved

An important interview has been published by the Wall St. Journal for those still trying to understand the business decision by General Electric to move its headquarters from Fairfield to Boston. More than any other development in recent years, the GE move is still cited by many as a major event that had an outsized impact on perceptions of Connecticut.

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Budget Battle

The governor and legislative Democrats and Republicans have publicly shared some of their plans for balancing the next two year budget.

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CT21 Reforms Could Save Millions

The Connecticut Institute for the 21st Century is offering a new analysis of its previous policy reform suggestions as the legislature grapples with the current budget crisis. Updated data shows there is still the potential to reduce costs by up to $2 billion, over the next five years, if previously proposed reforms from CT21 are fully implemented across state government.

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Signs of Hope

There is little good budget news coming out of the state capitol this week, but there are signs that the dwindling lack of options is forcing the governor and lawmakers to consider approaching this year's challenge with long-term reform in mind.

Thursday, the bi-partisan leadership of the House pledged to work together to think in terms of "years [ahead] and future generations" when it comes to crafting the next two-year budget and Governor Malloy pledged not to resort to borrowing to close the $5 billion budget gap. If that thinking holds - it may afford Connecticut an opportunity to take a first step toward a more sustainable budget process and a stronger economic footing.

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Options Limited

A plan by Governor Malloy to close the gap in this fiscal year's budget takes many options off the table - including use of the Rainy Day Fund - as lawmakers try to tackle the challenges presented by budget shortfalls in the next two years.

With less than a month to go in the current legislative session work has barely begun on addressing a potential budget imbalance of $5 billion or more.

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Good and Bad News

Another economic ranking lists Connecticut as one of the worst places to do business, this according to Stamford based Chief Executive Magazine. But the same ranking says among Connecticut's attributes are quality of life and the quality of the workforce.

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Deadline Pressure

Facing a shortfall of more than $5 billion over two years, state lawmakers are moving into the final weeks of this year's legislative session with no clear direction about how to close the gap.

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