Balanced Budget Improves Fiscal Outlook

October 5, 2021

Good fiscal policies and a vibrant economy are leading Connecticut in the right direction. The CT Mirror reports a number of factors are working – including prudent fiscal policies – and point to a bright future.

By maintaining a balanced budget, the state has been given the ability to address a top priority of mine: proper funding of the teachers' pension system and a reduction of the system's long-term debt.

The pension system is getting a $1.6 billion supplemental payment infusion – in addition to $2.9 billion in regular pension system contributions. By contrast, the state made a $61.6 million supplemental pension payment last year.

These fiscal policies give Connecticut the financial strength to navigate the pandemic and position the state for ongoing economic growth.