Posts tagged: economics

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 >>

Cigarettes the most taxed business

Tweet The cigarette manufacturing industry is the only sector in the economy covered by a law that forces increases in the excise tax every two years from 2009 to 2013. Figures obtained from the Bureau of Internal Revenue show that the increases did not exactly produce the expected revenues commensurate in amounts to the rate of the taxes. This is so, according to industry leaders, because every time a new higher rate is imposed, there is an init ... Jump to full article >>