Steven Stafstrom

Wednesday morning, the House passed a $46.4 billion state budget, sending it to the Senate. This budget invests in working- and middle-class families while staying under the spending cap and holding the line on taxes without touching the Rainy-Day Fund. For the first time in our state, we passed a budget with a $2.3 billion surplus built into it, signaling a brighter future for Connecticut's economy. 

It is responsible, balanced, and puts Connecticut on a path to recovery from the COVID-19 pandemic while positioning our state for future growth. Through hyperlocal investments, economy-centric legislation and funding, this budget jumpstarts our state economy.

Thanks to the hard work of the Bridgeport delegation, our city will see a $1.6 million increase in FY 2022 and a $3.1 million increase in FY 2023 for state education funding for Bridgeport schools. Additionally, Bridgeport will receive a $12.5 million increase in FY 2022 and a $14 million increase in FY 2023 in total aid. This historic increase in state aid to Bridgeport is critical for offsetting the local property tax burden, funding local services and improving our schools.

In addition to municipal funding, this budget makes significant investments to our state's recovery from the pandemic, workforce development, nonprofits, and more. We recognized that during these challenging and unprecedented times, Connecticut needed to rally behind the people, businesses and industries that both provide for and directly benefit from a bustling economy. 

This budget will:

• Provide funding for debt-free community college, ensuring all Connecticut residents have the ability to receive an education regardless of their financial situation
• Increase the state’s earned income tax credit, providing tax credits for qualifying working families with children
• Expand and incentivize workforce training for prospective employees and employers wanting to relocate to Connecticut
• Provide COVID-related relief to businesses in need, while promoting equitable business practices
• Allocate funding to the Connecticut Women's Business Development Council, which provides support and resources for women and minority-owned businesses throughout our state

Our budget is designed to jumpstart Connecticut's economy with targeted investments and sound fiscal policy. I am proud of the hard work we put in to create a balanced budget that keeps our state moving forward and beyond these challenging times.