Approps Committee To Approve Budget Later Today
One of the legislature’s two budget writing committee’s is expected to vote today on a spending plan for next fiscal year.
The Democrat-controlled Appropriations Committee is scheduled to meet Thursday to vote on their response to Gov. Dannel P. Malloy’s budget adjustments unveiled in February.
Malloy’s $19.03 billion budget included a 2.7 percent increase in spending over last fiscal year and was $8.1 million under the spending cap. The budget included a $40 million in early childhood and K-12 education spending, increased funding for private college and hospital PILOT (payment-in-lieu-of-taxes), and $51.3 million in tax cuts.
The legislature’s Finance, Revenue, and Bonding Committee will unveil the revenue portion of the budget next month. Earlier this month Appropriations subcommittees proposed $60 million in spending above Malloy’s budget and last week the nonpartisan Office of Fiscal Analysis concluded that Malloy’s budget was running a $69.4 million deficit.
The legislature and Malloy’s administration will then negotiate a final budget behind closed doors that the full legislature must approve before May 7.