FINANCE

After years of being in the red, the state of Connecticut now has a surplus of more than $1 billion because of higher than expected income tax collections since the beginning of the year. Democrats and Republicans have different ideas about what to do with the money.

Three-quarters of the federal cash that was recently allocated to help families in Eastern Connecticut with crumbling foundations has been diverted by state officials for other needs.

A new report says the Regional Greenhouse Gas Initiative has put $4 billion into Northeast economies since 2009.

The three-year study by the Analysis Group says those benefits have continued even as the program known as RGGI grew more ambitious.

Connecticut Governor Dannel Malloy Friday defended the state’s controversial financial bailout of Hartford following complaints from other cities and some state lawmakers that the deal is too generous.

In March, the mayors of Bridgeport and New Haven called on state lawmakers to scrutinize the state’s $550 million bailout of Hartford. They questioned why the state would agree to cover the capital city’s debt payments for the next two decades.

Mount Ida students and personnel gather outside of Alumnae Hall for a meeting with UMass Dartmouth Chancellor Robert E. Johnson.
Jesse Costa / WBUR

The Massachusetts Senate plans to look into UMass Amherst's proposed acquisition of Mount Ida College. One senator said he hopes to learn some answers before the agreement is completed.

Massachusetts state Sen. Eric Lesser in a file photo.
Dave Roback / The Republian / masslive.com/photos

As the Massachusetts Senate unanimously passed a bill to increase oversight of the student loan industry in the state, the measure's House backers pointed to their own borrowing experiences to make the case for why their chamber should follow suit.