Protecting Connecticut's Financial Future and Investing in Our StudentsFebruary 15, 2023
Last week we voted to extend a number of budgetary protections known as "fiscal guardrails," as well as approve funding for two important school programs.
Originally put in place in 2017, the "fiscal guardrails" have been critical to allowing us to cut taxes, invest in families and the economy, pay down debt, and save for the future.
- Cutting over $650 million in taxes
- Paying down billions in pension debt
- Investing in preschool education and children's mental health programs
- Record savings deposited in our "Rainy-Day" reserve fund
That same legislation also invested in Connecticut's students.
By utilizing $60 million of federal American Rescue Plan Act (ARPA) funding, we are able to ensure every child in Connecticut can access free school lunches for the remainder of the school year. Equitable access to proper nutrition in school is necessary to supporting a child's ability to learn and thrive.
In addition, we added more than $20 million in special education funding to schools across the state, ensuring that all committed funding increases were provided to our school districts.
This fiscal year, we will continue to cut taxes for working families, further reduce debt levels, save for the future, and most importantly continue our commitment to invest in our communities.