Governor lays out re-open plan
Re-Open Advisory update
State Finances taking a hit
Other news and notes from the State Capitol
Links to live by

 

  • Governor Lamont announced yesterday that he is hopeful that the state will “re-open” for business on May 20th. The Governor made this announcement at his daily press briefing and said that business would reopen in 4 stages beginning May 20th. If the numbers continue to trend downward as they have for the last 9 days.
  • This is welcome news to the thousands of retailers and related businesses that have had to hit pause on their business and are eager to restart their stores.
  • The Governor made clear yesterday that ALL retailers will be allowed to re-open and that it would be done on a statewide basis. He also mentioned how important it was to the state – and most importantly to those retailers that have been idle – to re-open.
  • We welcome his comments because we know that retailers are ready to re-open, ready to provide a safe store for customers to shop in, and ready to do their part to get CT’s economy moving again.
  • There will more details to come with this announcement, and we will share those with you. We are very hopeful that the May 20th re-open will take place.

 

Re-open Advisory Board update

  • The Governor’s decision to announce CT’s plan to re-open was done with input from the Re-Open CT Advisory Board, which includes CRMA President Tim Phelan.
  • The Advisory Board’s work is not done, with many of the details, guidance and direction that needs to take place before the re-open can happen, still being worked on.
  • Be assured that we will keep up to date on all that we learn from the Advisory Board and others as we move closer to May 20th. But, please do not hesitate to contact Tim Phelan directly with any thoughts, questions or concerns you might have. You can email him at tim@crmaonline.com

 

CT Finances bracing for a hit

  • In the no surprise department, the Governor also announced yesterday that CT’s finances are sure to take a major hit due to this crisis.
  • Fiscal analysts are warning that the coronavirus-induced recession would rip an unprecedented $7 billion from Connecticut’s coffers by 2023, quickly consuming the state’s record-setting Rainy Day Fund. CT Mirror has the story, here.
  • With businesses shut down and thousands filling for unemployment, it is no surprise that the Governor made this announcement. Among the key factors – that retail business haven’t been open and haven’t been collecting sales tax.
  • In addition to a sharp decline in sales tax, taxes from personal income and business are all projected to dip in this current fiscal year, which ends June 30th. The state will also see a major drop in revenue from the state lottery and two casinos. WFSB updates the casinos status here.

 

Other news and notes from the State Capitol

  • We are hearing rumblings that the General Assembly may be coming back into Special Session sometime in June – prior to the end of the fiscal year. The state’s budget chief indicated today that was a possibility.  We will keep you posted as we hear more details.
  • Also, Rep. Jason Rojas (D) East Hartford, the House Co-Chair of the Finance, Revenue and Bonding Committee, and Deputy House Minority Leader Vin Candelora (R) North Branford, both called on the Governor to reach out to the Legislature to get more involved in solving the budget crisis. The CT Mirror has that story here.
  • The Courant’s Chris Keating also takes a look at the candidates who are seeking to replace retiring Sen. Len Fasano (R) North Haven. You can go here for that story.
  • Fasano defeated a Democrat for that seat back in 2002 and this time around the D’s think they might be able to take it back.

 

Links to live by

  • Despite its small size, Connecticut has had more total fatalities than states such as California, Texas, Florida and Washington. Per capita, Connecticut ranks third nationwide in deaths, behind only New York and New Jersey. The Hartford Courant explains why, here.
  • Lamont indicated on Friday he will cancel tax relief and impose $400 million in emergency spending cuts to mitigate the multi-billion-deficit projected for the upcoming fiscal year. A gasoline tax hike and state employee givebacks may also be possible.  CT Mirror has the recap here.
  • Connecticut towns have yet to receive any of the promised federal coronavirus aid, as their expenses continue to rise. CT Mirror has that story here.
  • DECD Commissioner David Lehman says the state has begun sending businesses approval notices in a $50-million emergency bridge loan program. Hartford Business Journal has the story here.