Connecticut lawmakers approve $55.8B state budget plan

Yahoo

2 days ago

HARTFORD, Conn. (WTNH) — With a pair of votes late Tuesday evening, Connecticut lawmakers gave final approval to the next two-year $55.8 billion state budget and a sweeping piece of energy legislation that proponents say will deliver modest electricity bill relief to ratepayers around the state.
The two-year budget easily passed through the State Senate with the support of the chamber's Democrats, who outnumber Republicans by a 2-1 margin.
Connecticut state lawmakers in last stages of finalizing energy bill
The GOP's 11-member senate caucus stood in uniform opposition to the spending plan.
The budget includes priorities championed by Gov. Ned Lamont and legislative Democrats.
Key spending initiatives include more than $200 million for a new universal pre-K program, a new tax break for low income families, and tens of millions of additional dollars to aide local school districts and special education programs.
In the state House, legislators gave nearly unanimous approval to the energy bill, which will shift hundreds of millions of dollars of costs currently being borne by ratepayers in the form of the public benefits charge on electricity bills.
In its current form, the public benefits charge collects hundreds of millions of dollars annually to fund government-directed energy programs including the procurement of renewable energy and initiatives to help low-income ratepayers when they can't pay their bills.
Connecticut House Democrats advance $55.8 billion two-year state budget plan
Instead of asking every ratepayer to share the costs of those programs, the new energy legislation will rely on state borrowing for funding.
Those cost shifts will deliver modest relief to the average ratepayer, legislators said, with reductions estimated at around $100 or more per year depending on the amount of electricity each ratepayer uses.
Both the budget and the energy legislation have the support of the governor.
He released a statement after the final approval, saying the budget is balanced and sensible.
His full statement is below:
'This is a balanced, sensible budget that is under the spending cap, provides predictability and stability for residents, businesses, and municipalities, and holds the line on taxes while keeping us on a sound fiscal path. Importantly, it includes significant investments in our education system, beginning with historic levels of support for early childhood education, up through our K-12 public schools and our higher education institutions. It also protects our social services safety net, prioritizing our health and human services providers and increasing support for our most vulnerable residents, including seniors and those who have disabilities, who receive Medicaid.
And while we are doing all of this, we are continuing to make historic and long-overdue payments into the pension system, preserve the strength of our fiscal guardrails, and make fiscally responsible investments into the rainy day fund that will protect our state against any potential economic headwinds we may face in the future.
While other states are increasing taxes and cutting services, economic analysts are pointing to Connecticut as an example of a state that has worked hard to maintain fiscal stability and make the smart decisions that are critical for economic growth.'
The current legislative session ends on Wednesday at midnight.
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