Posts tagged: budget

Malloy signs $40.1 billion budget

Tweet Hartford, Conn. — Now that Gov. Dannel P. Malloy has signed a two-year $40.1 billion Democratic budget deal into law, attention focuses on a $2 billion gap he still hopes to fill with savings from Connecticut’s state employees. Malloy said Wednesday that his administration continues to meet behind closed doors with “our fellow state employees,” trying to resolve “remaining issues” and come up with a plan for saving $2 billion ov ... Jump to full article >>

Raiding more trust funds horrible idea by state

Tweet Republicans in the North Carolina House of Representatives are taking aim at three trust funds set up to disperse half of North Carolina’s share of the national tobacco settlement, all in the name of balancing the state budget. The money flowing into the state from this settlement is part of the agreement the major tobacco companies made with states suing those firms, under which those companies promise to pay hundreds upon hundreds of mi ... Jump to full article >>

2 tobacco settlement funds end in NC House budget

Tweet RALEIGH, N.C. — House Republicans want to abolish two trust funds that receive half of North Carolina’s share of the national tobacco settlement and intercept money from the third – a direction health and economic development advocates contend will raise youth smoking rates and discourage economic recovery. The GOP-penned state budget proposal heading to floor debate Tuesday would eliminate by Dec. 31 the Health and Wellne ... Jump to full article >>

Heated debate over proposed N.H. tobacco tax cut

Tweet Call it a duel between tobacco tax studies. During a floor debate in the Legislature last month on lowering the New Hampshire tobacco tax, Rep. Patrick Abrami, R-Stratham, said the move was necessary to help small businesses rebound and strengthen a competitive advantage in lower cigarette taxes with neighbor states. “We have reached the tipping point,” Abrami said about the sizeable increase in tobacco taxes that had taken plac ... Jump to full article >>

Senate panel approves liquidating tobacco-settlement reserve for med schools

Tweet Senate budget writers voted Thursday afternoon to liquidate an endowment containing more than $400 million of Texas’ tobacco-settlement money and give the money to 10 academic health science centers, including the University of Texas Southwestern Medical Center at Dallas. The centers would take a 15 percent cut in their state funding in the proposed two-year budget, said Senate Finance Committee Chairman Steve Ogden, R-Bryan. He said ... Jump to full article >>

Senators consider restoring disputed tobacco measure

Tweet A Senate subcommittee has asked for amendments that would restore Measure 3 and its stipulation that settlement dollars be spent on tobacco prevention. When the state Health Department’s budget came before the House, it was amended to allow tobacco settlement money, which in part goes to the Community Health Trust Fund, to be spent on programs outside of tobacco prevention and cessation. That vote overturned Measure 3, which was appro ... Jump to full article >>

Budget ideas get creative

Tweet If Washington’s budget problems get too terrible to solve, can’t the state borrow money? Or could it issue bonds against future Lottery earnings or future tobacco-lawsuit payments to the state? Why not sell off state assets such as land? Or just leave the state budget unbalanced for a year or so – until the economy gets better and money is flowing again? Gov. Chris Gregoire has suggested selling some state surplus lands, but she and h ... Jump to full article >>

Florida must close loophole in tobacco tax

Tweet Our state lawmakers will soon have to make incredibly difficult decisions to address Florida’s unprecedented budget crisis. In times like these, funding for critical services like health care may face drastic reductions. Important legislation that would close the notorious “Non-Participating Manufacturers loophole” in Florida’s tobacco policy would help remedy our budget shortfall. The 1997 Florida Tobacco Settlement ... Jump to full article >>

Tobacco tax could go up in budget

Tweet THE Federal Government’s indigenous smoking coordinator has hinted that Labor could increase the tobacco excise in the May budget. Tom Calma, who has the job of reducing smoking rates in Aboriginal communities, made the call at the National Press Club in Canberra on Thursday. Asked whether he would like to see the government increase the tobacco tax in the upcoming budget, Mr Calma said: “I believe that’s mooted.” Bu ... Jump to full article >>

Gov. Bobby Jindal proposes constitutional protection for TOPS program

Tweet Gov. Bobby Jindal will ask the Legislature to pass a constitutional amendment this spring that would dedicate $43 million a year in tobacco-settlement proceeds to the popular TOPS college scholarship program. Jindal said the amendment is designed to ensure that TOPS remains available to future generations and to make it more difficult to cut during tough budget times. “We think this is an important amendment because it helps protect T ... Jump to full article >>