Here are the winning numbers for the $1.1 billion Powerball jackpot Labor Day drawing:
8, 23, 25, 40, 53, with the 5 (red ball).
This is a breaking news story. Follow for updates.
No ticket matched all six numbers drawn Saturday night, pushing the Powerball jackpot to an estimated $1.1 billion for the next drawing on Monday night – the game’s fifth-largest prize ever.
The winning numbers in the Saturday, Aug 30 drawing: 22-3-33-18-27 Powerball: 17
Nine tickets matched all five white balls to win $1 million prizes in Saturday night’s drawing. The $1 million-winning tickets were sold in California (4), Connecticut, Florida, Illinois, Massachusetts and Pennsylvania.
Monday’s Powerball drawing will be the 40th drawing since the jackpot was last won in California on May 31, 2025. To date, the longest Powerball jackpot run has been 42 consecutive drawings, which was set on April 6, 2024, with a $1.326 billion jackpot winner in Oregon.
If a player wins Monday’s jackpot, they will have the choice between an annuitized prize estimated at $1.1 billion or a lump sum payment estimated at $498.4 million. Both prize options are before taxes. If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5-percent each year.
The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.
Here is a look at the 10 largest U.S. jackpots that have been won and the states where the winning tickets were sold:
1. $2.040 billion, Powerball, Nov. 7, 2022 (one ticket: California) 2. $1.765 billion, Powerball, Oct. 11, 2023 (one ticket: California) 3. $1.602 billion, Mega Millions, Aug. 8, 2023 (one ticket: Florida) 4. $1.586 billion, Powerball, Jan. 13, 2016 (three tickets: California, Florida and Tennessee) 5. $1.537 billion, Mega Millions, Oct. 23, 2018 (one ticket: South Carolina) 6. $1.348 billion, Mega Millions, Jan. 13, 2023 (one ticket: Maine) 7. $1.337 billion, Mega Millions, July 29, 2022 (one ticket: Illinois) 8. $1.269 billion, Mega Millions, Dec. 27, 2025 (one ticket: California_ 9.$1.128 billion Mega Millions, March 26, 2024 (one ticket, from New Jersey) 10. $1.08 billion, Powerball, July, 19, 2023 (one ticket: California)
Sources: AP archives, www.megamillions.com and www.powerball.com
When entering Connecticut’s housing market, whether you’re buying or selling, understanding real estate commissions is vital for your financial planning and negotiation strategy. In 2024, changes to how commissions are handled were rolled out across the country, aiming to increase transparency. These updates aim to help buyers and sellers make more informed choices throughout the real estate process.
This guide will help you break down real estate commissions in Connecticut, clarify the recent changes, and offer tips on navigating these fees with confidence.
Current state of the Connecticut housing market
Before diving into commissions, it’s helpful to take a quick look at the key stats in Connecticut’s housing market:
Median Home Sale Price
$460,200
Housing Supply
10,032 (-6.1% YoY)
Homes Sold Above List Price
62.1% (-2.5 pts YoY)
Understanding real estate commissions in Connecticut
What are real estate commissions?
Real estate commissions are the fees paid to agents for their role in facilitating the sale or purchase of a home. These fees are typically paid at the time of closing and are calculated as a percentage of the sale price.
Who pays the commission?
Historically, sellers covered the commissions for both their own agent and the buyer’s agent. However, from August 17, 2024, new regulations in Connecticut require buyers to agree to their agent’s commission fee in writing before they start touring homes.
While buyers can still ask the seller to cover these fees as part of their offer, the amount that sellers will pay for the buyer’s agent has become more flexible and open to negotiation.
Average real estate commission rates in Connecticut
Commission rates in Connecticut aren’t set in stone—they vary depending on the transaction, the agent, and the negotiation between the parties. While general expectations for commission rates exist, the actual amount paid is always negotiable based on the specifics of the sale. Factors like the home’s location, market trends, and the services offered by the agent can all play a role.
Here’s a look at typical commission amounts based on median home prices in some of Connecticut’s largest cities:
At Redfin, we strive to provide the best value by offering listing fees as low as 1%* for sellers. For buyers, fees vary by location, but remain competitive.
Can you negotiate real estate commissions in Connecticut?
Yes, you can absolutely negotiate commission rates in Connecticut. Since there are no laws that set commission amounts, you have the flexibility to work out terms with your agent. The outcome of your negotiation could depend on factors like the scope of services offered, the nature of the transaction, and your relationship with the agent.
When discussing commissions, consider the agent’s experience, marketing strategies, and knowledge of the local market. Sellers with highly marketable homes may have more room to negotiate lower commissions, especially if the property is expected to sell quickly. In dual agency situations, where one agent represents both the buyer and seller, you may also be able to reduce fees since only one agent is involved.
Tips for a successful negotiation
Compare multiple agents: Before settling on an agent, compare their services and commission structures.
Consider incentives: Explore options like performance-based bonuses for faster sales or higher selling prices.
Leverage your property’s appeal: Agents may be willing to lower fees for homes that are highly desirable in the market.
Connecticut real estate commission FAQs
What are the changes to real estate commission? Two significant changes have been introduced: buyers now have to sign a written agreement outlining their agent’s commission before touring homes, and in many areas, buyer agent compensation is no longer displayed on MLS listings. Learn more about the real estate commission changes here.
How do the changes impact buyers in Connecticut? Buyers in Connecticut must agree to their agent’s commission in writing before they begin home tours. That said, they can still request that sellers cover these fees as part of their offer.
How do the changes impact sellers in Connecticut? Sellers continue to negotiate with their listing agents about the commission they are willing to offer a buyer’s agent. They also have the flexibility to review and negotiate any requests included in the buyer’s offer.
How do you find a real estate agent in Connecticut? Whether you’re buying or selling, Redfin has agents ready to help. Get in touch with a Redfin agent today to get started.
How can you avoid fees? Selling a home without an agent (also known as For Sale by Owner, or FSBO) is one way to avoid paying commission fees. However, it comes with extra responsibilities, such as marketing the property, conducting showings, and handling the paperwork.
*Listing fee subject to change, minimums apply. Any buyer’s agent fee the seller chooses to cover not included. Listing fee increased by 1% of sale price if buyer is unrepresented. Sell for a 1% listing fee only if you also buy with Redfin within 365 days of closing on your Redfin listing. We will charge a 1.5% listing fee, then send you a check for the 0.5% difference after you buy your next home with us. Learn more here.
Mike and Jesse kick off the show with breaking news: Topps has significantly expanded its Disney partnership to include Pixar, Marvel, and Star Wars card rights. They break down how this move will reshape the card industry and address the troubling rise in theft within the card community (3:00). Later, they welcome Nick Andrews, also known as the Boston Card Hunter, to talk about the pros and cons of using CT scans in card collecting and the ethical issues it presents (18:00).
Hosts: Mike Gioseffi and Jesse Gibson Guest: Nick Andrews Producer: Devon Renaldo
If you’re thinking about moving to Connecticut, bustling cities like Bridgeport or Stamford might come to mind. However, this state has much more to offer. From quaint downtowns to festivals that bring the community together, Connecticut’s small towns are perfect for anyone looking to experience what life is like in its quieter corners. In this Redfin article, we’ll discuss 7 charming small towns in Connecticut, each with their own unique character and plenty of reasons to call home.
Located in the Litchfield Hills, Lakeville is known for its beautiful lake and rich history. Locals love spending weekends by Lake Wononscopomuc, Connecticut’s deepest natural lake, where boating, fishing, and picnicking are favorite activities. If you’re visiting in August, don’t miss the Salisbury Fall Festival, an event showcasing local crafts, food, and music. History enthusiasts will appreciate the Hotchkiss School, an iconic boarding school that has been educating students since 1891. The town is also home to The White Hart Inn, a historic inn that has hosted many famous guests, including Mark Twain.
Sitting on the southeastern tip of Connecticut, Stonington is a coastal town with a strong maritime heritage. The town is known for its historic Stonington Borough, where you can stroll through streets lined with 18th and 19th-century homes. On weekends, locals and visitors flock to Dubois Beach for sunbathing and swimming, while seafood lovers head to the Dog Watch Café for fresh, locally sourced dishes. Stonington is also home to the Stonington Vineyards, one of Connecticut’s oldest wineries, which offers tastings and hosts events throughout the year.
Bantam is famous for its thriving food scene. Particularly at Arethusa Farm Dairy, where locals rave about the homemade ice cream and artisanal cheeses. The Bantam Cinema & Arts Center, the oldest continuously operating movie theater in Connecticut, is a great place to enjoy independent films and special screenings.
Cornwall is perhaps best known for the iconic Cornwall Bridge, a covered bridge that has become a symbol of New England charm. Locals and visitors enjoy hiking in the nearby Mohawk State Forest, where the trails have pretty views, especially during the fall foliage season. On weekends, the Cornwall Farmers Market is the place to be, offering fresh produce, local crafts, and live music. The town also boasts a rich artistic community, with several galleries showcasing the work of local artists.
Often referred to as the “Quiet Corner” of Connecticut, Woodstock is a picturesque town with rolling farmland and historic sites. The town is home to Roseland Cottage, a Gothic Revival house that has been meticulously preserved and is now a museum. Woodstock is also famous for its annual Woodstock Fair, one of the oldest agricultural fairs in the country. Weekends in Woodstock often involve leisurely drives through the countryside, stopping at local farms for fresh apples or homemade cider.
Lyme is loved by outdoor enthusiasts, with the nearby Nehantic State Forest offering miles of hiking trails and opportunities for birdwatching. Lyme is also home to the Florence Griswold Museum, a historic site that played a pivotal role in the American Impressionist art movement. Every July, the town hosts the Lyme Farmers Market, a community event where locals gather to enjoy fresh produce, local crafts, and live performances.
Mystic is a coastal town that seamlessly blends maritime history with modern attractions. The town’s centerpiece is Mystic Seaport, the largest maritime museum in the United States, where visitors can explore historic ships and learn about the region’s seafaring past. Mystic Aquarium is another must-see offering close encounters with marine life, including beluga whales and African penguins. On weekends, the streets of Mystic are alive with locals dining at waterfront restaurants, shopping at boutique stores, or enjoying a scoop of ice cream from Mystic Drawbridge Ice Cream.
GREENWICH, Connecticut (WABC) — A police officer in Connecticut may have earned himself the honorary title of uncle after he helped bring a baby boy into the world.
A pregnant woman and her husband were on their way to Stamford Hospital for a prenatal checkup when their car hit a pot hole and sustained two flat tires.
Upon arrival, Greenwich Officer Joshua Weinstock made contact with the couple, who said that although the baby was not due for another three weeks, the woman was experiencing abdominal pain. The couple called 911 when the pain worsened, as she suspected she was in labor.
As the woman continued to have contractions, Officer Weinstock advised her to push until she delivered her son. The woman eventually gave birth to a healthy baby boy, whom the couple named James Vincent Sanford.
First responders transported the couple and their newborn to Greenwich Hospital for post-birth treatment.
The Greenwich Police Department has since named Weinstock as “Officer of the Month” for quick-thinking actions and professionalism on the job.
Have a breaking news tip or an idea for a story we should cover? Send it to Eyewitness News using the form below. If attaching a video or photo, terms of use apply.
With its close proximity to New York City and a thriving business district, Stamford, CT, draws residents looking for a perfect blend of urban and suburban living. This charming city is known for its vibrant downtown area, beautiful waterfront, and tree-lined neighborhoods. So, if you’re considering making Stamford your home, you’ve come to the right place.
To help you find the right area, Redfin has gathered a list of 9 popular Stamford neighborhoods. From the lively Downtown Stamford to the picturesque Shippan neighborhood, Stamford offers various neighborhoods that fit your lifestyle. Let’s jump in and explore Stamford.
1. Belltown
Belltown is a small residential neighborhood located in the larger Springdale area. This neighborhood is known for its vibrant atmosphere and is close to several popular restaurants and bars. It’s also close to Sleepy Hollow Park, a popular neighborhood green space. Belltown has historic brownstones and modern high-rise condos.
The Cove is situated in the southeastern part of Stamford, offering picturesque views of the Long Island Sound. Residents can enjoy Cove Island Park, which features beaches, walking trails, and picnic areas. You can find other popular green spaces like Cummings Park, which has a beach and fishing pier. The Cove is characterized by a mix of single-family homes and waterfront properties.
Downtown Stamford is the heart of the city, offering a bustling urban environment with a wide range of dining, entertainment, and cultural attractions. It’s home to Mill River Park, a popular green space with walking trails and outdoor events. You can also find landmarks and shopping centers like the Stamford Cone, Stamford Town Center, and Landmark Square. Downtown Stamford has a mix of modern high-rise apartments and historic brownstones.
Median Sale Price: $407,500
Average Rent for 1-Bedroom Apartment: $2,350 | Average Rent for 2-Bedroom Apartment: $3,000
Glenbrook is in northeast of Downtown Stamford, offering a suburban feel with easy access to local amenities. It’s home to Barrett Park, a popular spot for outdoor recreation and community events. The housing options in Glenbrook include single-family homes and townhouses, often in Colonial styles.
Median Sale Price: $403,000
Average Rent for 1-Bedroom Apartment: $2,150 | Average Rent for 2-Bedroom Apartment: $3,600
Newfield-Westover-Turn of River is situated in the northern part of Stamford, offering a mix of residential and commercial areas. It’s comprised of three neighborhoods – Newfield, Westover, and Turn of River. This area has plenty to do, including exploring Mianus River Park and Scalzi Park, visiting Fort Stamford, and golfing at Sterling Farms Golf Course. Newfield-Westover-Turn of River features a mix of colonial-style homes and contemporary residences.
North Stamford is known for its picturesque landscapes and spacious properties. It’s home to the Mianus River State Park, offering hiking trails and scenic river views. You can also find landmarks like the beautiful Bartlett Arboretum & Gardens and the Stamford Museum & Nature Center. In North Stamford, you can find plenty of colonial-style homes and luxury estates.
Shippan is located in the southern part of Stamford, offering waterfront living and scenic views of the Long Island Sound. Residents can enjoy Cove Island Park, West Beach, and the Seaview House Marina. Shippan has plenty of waterfront properties and modern condominiums.
Springdale is located in the northeastern part of Stamford, offering a mix of residential and commercial areas. It’s home to Sleepy Hollow Park, Woodway Park, the Woodway Country Club, and the Springdale train station stop. Springdale features a mix of single-family homes and townhouses in various styles, such as colonial and split-level.
West Side-Waterside-South End is located in the western part of Stamford and blends residential and commercial developments. It has several attractions like Kosciuszko Park, Rosa Hartman Park, and plenty of waterfront restaurants. It’s home to several attractions like Kosciuszko Park, Rosa Hartman Park, and plenty of waterfront restaurants. This area is a great option if you’re looking for a waterfront area with green spaces and cozy cafes. West Side-Waterside-South End has a mix of historic homes and modern apartments.
Methodology: All neighborhoods must be listed as a “neighborhood” on Redfin.com. Median home sale price data from the Redfin Data Center during March 2024. Average rental data from Rent.com during March 2024.
NEW YORK (WABC) — The Mega Millions jackpot has jumped to an estimated $875 million jackpot ($413.5 million cash) for next Tuesday’s drawing.
Friday’s numbers were: 50-13-66-51-25 Mega Ball: 6
If won, it would be the sixth largest jackpot since the game began in 2002.
Watch Mega Millions drawings every Tuesday and Friday night at 10:59 p.m. ET right here
The Mega Millions jackpot has been rolling since it was last won with two tickets in California on December 8.
March has been a very good month for Mega Millions jackpot winners. Since the game began in May 2002, 21 jackpots have been won during March, including two exceeding $500 million.
A $656 million prize on March 30, 2012, was shared by winning tickets in Illinois, Kansas and Maryland; that was a world record for a jackpot game at the time.
A New Jersey player celebrated a $533 million win on March 30, 2018.
The odds of winning the jackpot are 1 in 302,575,350.
The Powerball jackpot has also risen to more than a half-billion dollars.
Top Mega Millions Jackpots
1. $1.602 billion, August 8, 2023 (one ticket in Florida)
2. $1.537 billion, October 23, 2018 (one ticket in South Carolina)
3. $1.348 billion, January 13, 2023 (one ticket in Maine)
4. $1.337 billion, July 29, 2022 (one ticket in Illinois)
5. $1.050 billion, January 22, 2021 (one ticket in Michigan)
6. $656 million, March 30, 2012, (three tickets in Illinois, Kansas, Maryland)
7. $648 million, December 17, 2013 (two tickets sold in California, Georgia)
Here is a look at the 10 largest U.S. jackpots that have been won and the states where the winning tickets were sold:
Have a breaking news tip or an idea for a story we should cover? Send it to Eyewitness News using the form below. If attaching a video or photo, terms of use apply.
NEW YORK (WABC) — Numbers were drawn in Saturday’s $521 million Powerball jackpot.
The numbers were: 52-63-36-30-49 Powerball: 16
This is the second time in 2024, the Powerball jackpot has surpassed half a billion dollars!
The prize would be the sixth largest Mega Millions ever awarded; only the game’s five jackpots exceeding $1 billion have been higher.
Watch Powerball drawings every Monday, Wednesday, and Saturday at 10:59 p.m. ET right here
The Powerball jackpot was last won on Jan. 1, 2024, by a single ticket in Michigan that matched all five white balls and the red Powerball to win a grand prize worth $842.4 million.
While the jackpot has evaded players over the past 29 consecutive drawings, 27 tickets nationwide have won prizes worth $1 million or more since the beginning of the jackpot run.
The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.
Have a breaking news tip or an idea for a story we should cover? Send it to Eyewitness News using the form below. If attaching a video or photo, terms of use apply.
From volunteer programs to neighborhood gatherings, Shelton’s commitment to community engagement enhances the city’s social life, making it a place where residents actively contribute to the collective well-being and vitality of the community. This strong sense of community spirit fosters connections among neighbors, creating a welcoming environment for shared experiences and mutual support.
● Flagman Founder Cindy Iodice Holds Press Conference June 2, Scheduled After Historic Sentencing in Slow Down Move Over (SDMO) Case ● U.S. Senator Richard Blumenthal Joins to Discuss Congressional Efforts to Promote Road Safety
Press Release –
Jun 1, 2022
BRIDGEPORT, Conn., June 1, 2022 (Newswire.com)
– After Bridgeport Superior Court concludes the sentencing hearing at 2 p.m. ET tomorrow in the State of Connecticut vs. Dean Robert case, Cindy Iodice, founder of FlagmanTM, will hold a press conference on the courthouse steps at approximately 3:30 p.m. about the sentencing of the drunk driver who killed her brother Corey J. Iodice on April 22, 2020. The sentencing is a historic and landmark case in Connecticut, which will be the very first time that Connecticut courts apply the language of the SLOW DOWN MOVE OVER (SDMO) law, enacted in 2009. U.S. Senator Richard Blumenthal (D-CT) will join the press conference to discuss Congressional efforts to raise awareness of Slow Down, Move Over (SDMO) laws to promote road safety.
Tow truck driver Corey John Iodice, 58, of Seffner, Florida, was killed in the line of duty on April 22, 2020. Born Aug. 31, 1961, in Bridgeport, Connecticut, Corey was a lifelong towing and recovery specialist who was well-respected for his abilities to execute any recovery. An anomaly in the towing industry and a consummate professional, Corey was also known as the guy who made safety his priority. Corey took pride in working with his brother Chris and father Russ during countless emergencies for the Fairfield Police and Fire Services.
In 1991, Corey, Chris and their father were awarded a Civilian Service Medal from Fairfield for saving the life of a victim of a horrific crash on Interstate 95. Corey loved his family, his dog Dude, and spending his free time camping, hiking, and biking.
Due to this tragedy, Cindy Iodice, Corey’s sister, founded Flagman TM, the new national non-profit to help save lives. Flagman’s TM mission is to champion a national public awareness/educational outreach program to reduce struck-by-vehicle injuries and fatalities nationwide. “I believe the solution to this problem is educating our children and the driving public of the dangers our first responders and highway workers face daily. When my brother Corey was killed, FlagmanTM for SDMO was born.”
FlagmanTM is bringing national awareness to the public about SDMO with the recent mention of Corey’s death by Senator Richard Blumenthal to U.S. Secretary of Transportation Pete Buttigieg in a committee hearing on May 3, 2022, in D.C.
Since its inception earlier this year, FlagmanTM has received overwhelming support from all facets of transportation, emergency services, police, fire, and major media. The national organizations that have stepped up to support FlagmanTM include MADD, AAA, and Department of Transportation. Connecticut partners and advocates include AAA New England, AMR, CRCOG, CT Fire Police, CT State Police, Fairfield CT Fire Dept., and Fairfield CT Police Dept., Fire Fighter Union CT, HASS Alert, Intl. Assoc. of Firefighters, TRPC, Iodice Family Transport, Mickey’s Towing, Strollo Bros. Towing, Chippy’s Service Station, Farmington Motors, Westport Fire and Police Department. In neighboring states, FlagmanTM supporters include ERSCA, International Towing and Recovery Hall of Fame, Wall of the Fallen, Survivors Fund, Miller Industries, Tow Times, MA Fire Fighters Union, and RI Fire Fighters Union.
On average, an Emergency First Responder is struck and killed every 4.65 days working on America’s roadways, with 65 deaths in 2021.
MEDIA Contact: Janet M. Kelley FlagmanTM Communications Director/Mana Means Communications Direct 808-285-7712 Email janet@manameans.com
Unveils Three-Point Turnaround Plan to Attract and Retain Businesses and Residents to Connecticut
Press Release –
updated: Feb 4, 2019
WESTPORT, Conn., February 4, 2019 (Newswire.com)
– Greg Kraut, founder of the newly launched Connecticut-based “solutions tank” The Economic Policy Project (www.economicpolicyproject.org), is calling on the state to adopt an emergency economic development program called Come to CT. This is in response to Governor Lamont’s latest economic development announcement where he stated that we need to “focus on what we have.”
Come to CT is designed to “focus on what we need,” which is to retain and attract businesses and residents to Connecticut, and immediately urges Governor Ned Lamont and the legislature to focus on cultivating “what we need” and not on “draining what we have.”
Kraut believes the state needs a complete economic overhaul to be competitive.
“We can’t afford to rely on what we have since what we have has brought us to where we are,” Kraut said. “We must immediately change Connecticut’s anti-business reputation and all-around high tax structure. Mixed messages are not effective – we can’t talk about raising the minimum wage and taxing groceries and have a believable conversation about economic development.”
According to Kraut, “Fewer residents and businesses lead to less revenue for our top schools, exacerbates our crumbling infrastructure and leads to property value decline.”
Come to CT proposes the following three initiatives:
Recruit and Retain Business – To help keep our existing businesses, Connecticut should create immediate incentives to companies that agree to hire new employees and to meet performance standards to attract high-priced jobs. In Virginia, they use workforce grants that have been successful in luring top companies like Amazon. Virginia has also used transportation investments to sweeten the pot. We also need to focus on assistance programs such as consulting engagements following the model of Florida’s initiative GrowFL. GrowFL, which offers four- to six-week consulting contracts, has resulted in the direct creation of 1,419 jobs, plus 819 jobs created indirectly, with a total economic input – as measured by sales and output – of $510.4 million.
Create Organic Business – To attract new businesses through public/private partnerships, Connecticut should establish business incubators, which could also make monetary investments in companies that show potential for growth and job creation but that might not meet traditional funding criteria banks require. It could follow the model of Pennsylvania’s Ben Franklin Technology Partners. We need to look only at this model as an example of how we could be doing better things here in Connecticut. Investments can take the form of debt or equity and can be converted to one or the other.
Recruit and Retain Educated Workers – To attract and keep the type of workforce that 21st-century companies are looking for, Connecticut must lower the state income tax to give us a value proposition over New Jersey and New York and to put us in line with Massachusetts where, as a result of lower taxes, clustered employees have surpassed Connecticut in growth. Tax reform, together with a student debt forgiveness program tied to residency, will grow our GDP and help Connecticut recruit and retain millennials, keep young families and encourage high-net-worth individuals to Come to CT.
“Our citizens and businesses are telling us that we don’t have what they want and that we are not competitive. Instead of focusing on what we have, we need to focus on what we need.For too long, Connecticut has not treated businesses or residents like customers and, as a result, they are leaving Connecticut in droves to find a better ‘product’ elsewhere,” said Kraut.
“Other states have been in competition with each other for business and residents; a fact that Connecticut has been unresponsive to. For years, Connecticut relied on wealthy residents and financial service businesses from New York City and had become complacent, while other states like Florida and Texas were actively attracting Connecticut’s businesses and residents.
“As Connecticut looks to rebound from years of poor economic growth, we need to send a message that the state is back in business,” said Kraut. “The immediate adoption of the Come to CT program will show companies that Connecticut is open for business and that it’s a vibrant state for workers and families alike.”
About The Economic Policy Project:
The Economic Policy Project is an independent, non-profit research institution dedicated to promoting smart bipartisan public policy solutions for Connecticut’s biggest fiscal challenges. The Economic Policy Project priorities are job growth, strengthening education, revitalizing Connecticut’s transportation network, sustainable budgeting, optimizing revenue streams and limiting debt and wasteful spending. The Institute encourages citizen activists to educate legislators and decision makers about smart government solutions that are used both in the public and private sector. Coming together from a wide variety of backgrounds and experiences, a skilled team of citizen solutionists is the backbone of The Economic Policy Project. Their ideas help shape the direction and mission of the organization as it continues to develop. For more information, visit www.economicpolicyproject.org.
Media Contact: Greg Kraut Phone: 203-493-0771 Email: greg@economicpolicyproject.org
WESTPORT, Conn., July 23, 2018 (Newswire.com)
– Westport RTM Member and State Representative candidate Greg Kraut (R-136) today called on the State Bonding Commission to reject Governor Malloy’s request for a $10m Toll Study that the elected legislature has already turned down and enact a Bond Moratorium for non-essential items for the rest of this calendar year.
“Gov. Malloy and his majority party have had 8 years to properly deal with our Transportation crisis. Borrowing $10m for a Tolling Study in the last 6 months of the administration is a complete waste of taxpayers’ money and at this point we must have a Bond Moratorium until the end of the calendar year,” Kraut stated.
Connecticut has the highest net tax-supported debt per capita of any U.S. state at $6,505. Connecticut’s net tax-supported debt per capita was the highest of any state, according to a Moody’s Investors Service report last year. The figure has grown from $5,185 in Moody’s 2013 report.
“We need to implore the State Bonding Committee to finally cut Governor Malloy’s maxed out Credit card. This type of tax and spend failed fiscal policies has led to debt which is strangling our state and municipalities. Our ratio of indebtedness to the statutory debt limit is approaching 90 percent. State Statutes require the Governor to review unissued bond authorizations and recommend that the General Assembly repeal authorizations to bring the ratio below 90 percent,” Kraut stated.
According to Bloomberg, Connecticut only complicated its own problems. It has been downgraded three times in as many years by S&P Global Ratings, had a fiscal 2017 net pension liability of $37.2 billion (up almost $10 billion from a year ago) and easily has the most tax-supported debt per resident among U.S. states. On top of all that, it has the fewest jobs in finance, insurance and real estate since 1996.
“I would not want to be his personal credit card company when he leaves office nor would I want to be the CFO of his next job, unfortunately, he has left us with debt that our children may not be able to pay back,” Kraut said.
