HARTFORD, Conn. (AP) — Republicans and Democrats are at odds over whether the latest legislative session will help improve Connecticut’s economic outlook.
On Thursday, the day after the General Assembly wrapped up the five-month session, Republican leaders said the two-year $44 billion budget passed by majority Democrats guarantees slow economic growth because of spending increases, extended taxes set to expire and borrowing.
The budget is $37.6 billion after $6.4 billion in federal Medicaid funds are shifted from under the state’s spending cap.
But both Democratic leaders and Gov. Dannel P. Malloy maintain the past session helps move Connecticut in the right direction, highlighting how no new taxes were increased.
The U.S. Commerce Department’s Bureau of Economic Analysis reported on Thursday that Connecticut was the only state where the economy shrank last year. It contracted by a fraction of a percent.
Copyright 2013 The Associated Press.