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CTNJ: Democratic budget proposal increases bottom line, eliminates teacher pension shift

HARTFORD, Conn. — The Democratic-controlled Appropriations Committee would increase spending by about $200 million each year over Gov. Dannel P. Malloy’s proposal, but it would spare municipalities the burden of picking up the $400 million in teacher retirement costs.

The Democratic spending plan that is expected to be debated later Tuesday afternoon increases spending by $199 million in the first year and about $204 million in the second year of the budget. The two year total would be about $41 billion, with $20.3 billion spent in the first year followed by $20.75 billion in the second.

In order to help make up for sparing cities and towns the shift in the teacher pension costs, the Democratic spending plan would give them about the same amount of money they received this year from the Municipal Revenue Sharing Account, which was created in 2015 as a way to help share part of the state’s sales tax revenue with municipalities.

Read the full story on CT News Junkie.

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