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Comptroller Braswell projects $2.1B surplus for Connecticut’s General Fund

However, she warned about elevated housing costs and rising inflation.

Pew: CT’s rainy day fund is fifth strongest in the U.S.

Pew estimates that 28 states expect their rainy day fund balances to grow in fiscal 2021 from the previous year, increasing the national total by a net amount of $4.6 billion to a new high of $82.3 billion.

CT to pay down pension debt by $1.6 billion

It's the second year in a row – and just the second time in history – that excess money in the state’s Budget Reserve Fund will be used to pay down the pension debt.

CT will use $1.2 billion to further pay down pension debt

State Treasurer Shawn Wooden said that Connecticut is on track to end fiscal year 2021 with a $157 million surplus, as well as a historically high rainy day fund balance of nearly $4.38 billion.

UPDATE: Bipartisan $46.4B biennial budget passes Senate; cannabis bill headed to...

As Gov. Ned Lamont promised, there are no new major tax increases.

Lamont: Further easing of restrictions could come in ‘next few weeks’

“Give me a couple of weeks," the governor told the Greater Danbury Chamber of Commerce this morning about allowing more capacity at a range of events. "I don’t want to open wide and then pull back.”

Lamont: CT economy ready to ‘snap back quickly’ within next few...

“A pretty good spring and summer is my hope,” the governor said.

No tax hikes, Lamont says; ‘More clarity’ on Covid situation within...

“It’s still dicey out there,” the governor told today's Economic Summit and Outlook forum, presented by the CBIA. “We’re not going to get our economy back until we can get people back to work.”

Workforce development, small business relief among CBIA’s legislative priorities this year

“We must continue the fiscal discipline of recent years that has seen revenue growth and a Rainy Day Fund that is now at historic highs," declared CBIA president and CEO Chris DiPentima.

Treasurer Shawn Wooden: The Business Journal Interview

“I feel very strongly that, just because (the rainy day fund) is there, we should not deplete it. While it's raining today, we don’t know how long the rain is going to last – or when it’s going to start raining again."

Incoming Republican Senate Leader Kevin Kelly: The FCBJ Interview

"We don’t always agree," Kelly (R-Stratford) says of Gov. Ned Lamont. "I don’t expect for us to always agree, but as long as discussions can be held in a candid and frank way, we can work together."

State report says CT facing $4.3B budget deficit over next two...

The state's Special Transportation Fund could become insolvent by 2024, according to the nonpartisan Office of Fiscal Analysis.

CT doing better with rainy day fund than New York, according...

Although at least 36 states had planned to make additional rainy day fund (RDF) deposits in fiscal 2020, the fiscal and economic strain inflicted by the Covid-19 pandemic prompted at least 17 to make or authorize withdrawals from those funds, according to the analysis.

Lamont lays out deficit mitigation plan; Fasano calls it ‘dangerous and...

State statute requires that when the comptroller certifies a shortfall in the General Fund in excess of 1%, the governor musts present lawmakers with a deficit mitigation plan within one month "to modify such allotments to the extent necessary to prevent a deficit."

Connecticut’s rainy day fund hits new $3.03B peak

Lembo also projected Connecticut is heading into Fiscal Year 2021 with a $2.1 billion deficit.