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Loss of top Aetna executives could cost Connecticut $3 million in tax revenue

Aetna assured Connecticut lawmakers that it will leave most of its employee workforce in Hartford and would only move its top executives to its new location in New York City. But even the loss of the top five executives at the insurance giant will cost Connecticut millions in lost tax revenue.

The five top executives, including CEO Mark Bertolini, earned a combined $49.2 million in 2016, according to Morningstar, a stock-trading and investment research company.

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Union leader seeks to secure costly union benefits by warning of coming budget deficits

Connecticut’s top union official wrote a letter to state employees asking them to approve a concession deal negotiated with Gov. Dannel Malloy and warned of “projected budget deficits in the billions.”

In a letter to state union members, AFL-CIO President Lori Pelletier told union members they could secure their benefits until 2027 and gain four years of layoff protections under the concessions agreement.

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Democratic House leaders pitch sales tax increase to help towns pay for teacher pensions

Despite being rejected by the state appropriations committee and denounced by municipal leaders across the state, Gov. Dannel Malloy’s plan to transfer one-third of teacher pension costs onto towns and cities is still being considered during budget negotiations.

However, during a June 22 press conference, House Speaker Joe Aresimowicz, D-Berlin, and House Majority Leader Matthew Ritter, D-Hartford, floated the idea of raising the state sales tax to 6.99 percent and using the increased funds to help municipalities pay for teacher pensions.

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The Yankee Institute for Public Policy Studies is a research and citizen education organization founded in 1984 under section 501(c)(3) of the Internal Revenue Service code. As one of America’s oldest state-based think tanks, Yankee develops and advocates for free market, limited government public policy solutions in Connecticut.

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Phone: 860-282-0722

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