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Connecticut lawmakers approve labor pact with pension concessions
Source: Reuters
#POLITICS
JULY 31, 2017 / 8:00 PM / 11 HOURS AGO
Connecticut lawmakers approve labor pact with pension concessions
Hilary Russ
NEW YORK (Reuters) - Connecticut lawmakers narrowly approved a new labor contract with public employees on Monday that is expected to save the state at least $1.2 billion - largely through pension concessions - and could clear the way for lawmakers to agree on a past due budget.
The total savings are combined over five years, from fiscal 2017 through 2021, according to a report from the legislature's office of fiscal analysis on Monday.
The house approved the deal last week. On Monday evening Lieutenant Governor Nancy Wyman, a Democrat who acts as president of the Connecticut Senate, broke a tie so the measure could pass 19 to 18.
The state missed its July 1 deadline to pass a biennial budget for the current and next fiscal year, leading Governor Dannel Malloy, a Democrat, to take over state spending and slash costs.
-snip-
JULY 31, 2017 / 8:00 PM / 11 HOURS AGO
Connecticut lawmakers approve labor pact with pension concessions
Hilary Russ
NEW YORK (Reuters) - Connecticut lawmakers narrowly approved a new labor contract with public employees on Monday that is expected to save the state at least $1.2 billion - largely through pension concessions - and could clear the way for lawmakers to agree on a past due budget.
The total savings are combined over five years, from fiscal 2017 through 2021, according to a report from the legislature's office of fiscal analysis on Monday.
The house approved the deal last week. On Monday evening Lieutenant Governor Nancy Wyman, a Democrat who acts as president of the Connecticut Senate, broke a tie so the measure could pass 19 to 18.
The state missed its July 1 deadline to pass a biennial budget for the current and next fiscal year, leading Governor Dannel Malloy, a Democrat, to take over state spending and slash costs.
-snip-
Read more: http://www.reuters.com/article/us-connecticut-budget-labor-idUSKBN1AG2O8
