Connecticut lawmakers took baby steps toward compromise yesterday on a two-year fiscal 2010-11 budget that is already 31 days late, offering new proposals that include a mix of tax increases, budget cuts, and borrowing.

Republican Gov. M. Jodi Rell’s new alternative $36.9 billion budget proposal included tax hikes, a move she had resisted all year, but was weighted toward spending cuts to close a $8.55 billion two-year gap.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.