Compromise Budget Would Eliminate Car Tax, Increase Teacher Pension Contributions
HARTFORD, CT — Democratic and Republican legislative leaders in the House briefed rank-and-file lawmakers on the tentative compromise budget deal Thursday and emerged confident they can still pass a budget, even if they haven’t finalized it yet.
As the day progressed more details about what was in the proposal became known and the give and take of 13 days of closed-door budget negotiations came into greater focus.
One of the hurdles lawmakers faced was figuring out how to spare cities and towns from having to pay part of what will be a ballooning payment over the next few years to the teacher’s retirement system. Both Democratic and Republican lawmakers said that was the number one priority of the teacher unions and the municipalities.
Instead of asking towns to pick up part of the tab, it asks teachers to contribute 1 percent more of their salaries to their pensions. They currently contribute about 6 percent. The compromise budget would have them contribute 7 percent.
Read more: http://www.ctnewsjunkie.com/archives/entry/compromise_budget_would_eliminate_car_tax_increase_teacher_pension_contribu/