The Connecticut Bond Commission has approved borrowing over $1 billion for infrastructure improvements, aid to the state”™s municipalities and fighting COVID-19.
Transportation-related projects were allocated $765 million, $360 million of which is for highway improvements, including widening Interstate 84 between Exits 3 and 8 as well as continued improvements to the Mixmaster interchange of I-84 and Route 8. Another $51 million has been earmarked for state bridge construction projects.
The commission also approved the release of $136 million in grants to cities and towns ”“ long-awaited funds that had been delayed during the prolonged tussle over highway tolls. That money helps pay for road repairs, tree clearing and snow removal.
Also approved was $5 million to battle the coronavirus pandemic. That money will be used only after the state”™s federal funding has been depleted.
Earlier this week, Gov. Ned Lamont said in a letter to the White House that the pandemic could cost the state at least $1.5 billion. That letter asked the federal government to authorize the Federal Emergency Management Agency (FEMA) to reimburse 100% of Connecticut”™s COVID-related costs, instead of the 75% it now covers.
Its the 2nd pillar of tax, borrow and spend.
Great job to Ned and the Dems, borrowing from the future to waste today.