Marathon budget talks this weekend between lawmakers and Gov. M. Jodi Rell’s administration have failed to yield an agreement on the state budget, however, the two sides were still talking late Sunday night.
It looked like Rell’s attempt to break the impasse last week by agreeing to increased income taxes on the wealthy in exchange for $520 million in spending cuts would lead to a deal, but no deal has been brokered.
Lawmakers will return to the Capitol today to approve borrowing an estimated $1 billion to cover the 2009 budget deficit. Democratic leaders also promised a vote on a budget.
“There have been extensive budget negotiations throughout the weekend. We are in the process of finalizing the remaining details, and talks with the Governor are continuing. We expect a vote in both chambers today and we look forward to resolving the budget crisis prior to September 1,” Speaker of the House Chris Donovan and Sen. President Donald Williams, said in a statement this morning.
Click here to read the 702-page budget bill. It looks like the Democrats decided not to get rid of the estate tax and will delay implementation of the sales tax reduction.