Connecticut lawmakers approve labor pact with pension concessionsNEW YORK (Reuters) - Connecticut lawmakers narrowly approved a new labor contract with public employees on Monday that is expected to save the state at least $1.2 billion - largely through pension concessions - and could clear the way for lawmakers to agree on a past due budget. The total savings are combined over five years, from fiscal 2017 through 2021, according to a report from the legislature’s office of fiscal analysis on Monday. The house approved the deal last week. On Monday evening Lieutenant Governor Nancy Wyman, a Democrat who acts as president of the Connecticut Senate, broke a tie so the measure could pass 19 to 18. The state missed its July 1 deadline to pass a biennial budget for the current and next fiscal year, leading Governor Dannel Malloy, a Democrat, to take over state spending and slash costs.  The labor pact is “a key piece toward adopting a budget for our state,” Malloy said in a statement after the vote. “I am urging legislative leaders on both sides of the aisle to work with our administration on finding a solution on this as possible so that the most vulnerable populations do not suffer long-term consequences.” Pension and healthcare provisions were also extended until 2027 in the deal, which Malloy said would ultimately save $24 billion over 20 years. Labor costs have been one sticking point in budget talks as lawmakers differed with each other and Malloy over how to close a $5.1 billion shortfall over two years. Through the State Employee Bargaining Agent Coalition (SEBAC), which covers about 42,000 members in 15 different unions, public employees ratified the deal on July 17. They negotiated with Malloy, who said the agreement would shave $1.6 billion off of the current deficit. This fiscal year alone contains the biggest savings of any other year at $371.8 million, the legislative analysis said. The largest concessions come from changes to public pensions and retiree healthcare. Employees will contribute more towards their pensions, and annual cost of living adjustments will be tied to the consumer price index. Wages will also be frozen for the three years ending fiscal 2019 but will be raised 3.5 percent in each of the following two years.  Republican critics said that concessions did not go far enough, that taxes would have to rise to pay for it and that the deal squandered an opportunity for a broader restructuring of public pensions and benefits. politicsNews
connecticut lawmakers approve labor pact pension concessionsnew york reuters connecticut lawmakers narrowly approved new labor contract public employees monday expected save state least billion largely pension concessions could clear way lawmakers agree past due budget the total savings combined five years fiscal according report legislature office fiscal analysis monday the house approved deal last week on monday evening lieutenant governor nancy woman democrat acts president connecticut senate broke tie measure could pass the state missed july deadline pass biennial budget current next fiscal year leading governor daniel alloy democrat take state spending slash costs the labor pact key piece toward adopting budget state alloy said statement vote i urging legislative leaders sides aisle work administration finding solution possible vulnerable populations suffer pension healthcare provisions also extended deal alloy said would ultimately save billion years labor costs one sticking point budget talks lawmakers differed alloy close billion shortfall two years through state employee bargaining agent coalition seat covers members different unions public employees ratified deal july they negotiated alloy said agreement would shave billion current deficit this fiscal year alone contains biggest savings year million legislative analysis said the largest concessions come changes public pensions retired healthcare employees contribute towards pensions annual cost living adjustments tied consumer price index wages also frozen three years ending fiscal raised percent following two years republican critics said concessions go far enough taxes would rise pay deal squandered opportunity broader restructuring public pensions benefits politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Connecticut lawmakers approve labor pact with pension concessionsNEW YORK (Reuters) - Connecticut lawmakers narrowly approved a new labor contract with public employees on Monday that is expected to save the state at least $1.2 billion - largely through pension concessions - and could clear the way for lawmakers to agree on a past due budget. The total savings are combined over five years, from fiscal 2017 through 2021, according to a report from the legislature’s office of fiscal analysis on Monday. The house approved the deal last week. On Monday evening Lieutenant Governor Nancy Wyman, a Democrat who acts as president of the Connecticut Senate, broke a tie so the measure could pass 19 to 18. The state missed its July 1 deadline to pass a biennial budget for the current and next fiscal year, leading Governor Dannel Malloy, a Democrat, to take over state spending and slash costs.  The labor pact is “a key piece toward adopting a budget for our state,” Malloy said in a statement after the vote. “I am urging legislative leaders on both sides of the aisle to work with our administration on finding a solution on this as possible so that the most vulnerable populations do not suffer long-term consequences.” Pension and healthcare provisions were also extended until 2027 in the deal, which Malloy said would ultimately save $24 billion over 20 years. Labor costs have been one sticking point in budget talks as lawmakers differed with each other and Malloy over how to close a $5.1 billion shortfall over two years. Through the State Employee Bargaining Agent Coalition (SEBAC), which covers about 42,000 members in 15 different unions, public employees ratified the deal on July 17. They negotiated with Malloy, who said the agreement would shave $1.6 billion off of the current deficit. This fiscal year alone contains the biggest savings of any other year at $371.8 million, the legislative analysis said. The largest concessions come from changes to public pensions and retiree healthcare. Employees will contribute more towards their pensions, and annual cost of living adjustments will be tied to the consumer price index. Wages will also be frozen for the three years ending fiscal 2019 but will be raised 3.5 percent in each of the following two years.  Republican critics said that concessions did not go far enough, that taxes would have to rise to pay for it and that the deal squandered an opportunity for a broader restructuring of public pensions and benefits. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: connecticut lawmakers approve labor pact pension concessionsnew york reuters connecticut lawmakers narrowly approved new labor contract public employees monday expected save state least billion largely pension concessions could clear way lawmakers agree past due budget the total savings combined five years fiscal according report legislature office fiscal analysis monday the house approved deal last week on monday evening lieutenant governor nancy woman democrat acts president connecticut senate broke tie measure could pass the state missed july deadline pass biennial budget current next fiscal year leading governor daniel alloy democrat take state spending slash costs the labor pact key piece toward adopting budget state alloy said statement vote i urging legislative leaders sides aisle work administration finding solution possible vulnerable populations suffer pension healthcare provisions also extended deal alloy said would ultimately save billion years labor costs one sticking point budget talks lawmakers differed alloy close billion shortfall two years through state employee bargaining agent coalition seat covers members different unions public employees ratified deal july they negotiated alloy said agreement would shave billion current deficit this fiscal year alone contains biggest savings year million legislative analysis said the largest concessions come changes public pensions retired healthcare employees contribute towards pensions annual cost living adjustments tied consumer price index wages also frozen three years ending fiscal raised percent following two years republican critics said concessions go far enough taxes would rise pay deal squandered opportunity broader restructuring public pensions benefits politicsnews