Lamont assures CBIA that CT’s spending cap is ‘sacrosanct’

1 day ago · Gov. Ned Lamont told a business audience Wednesday that Connecticut’s spending cap, one of the so-called fiscal guardrails that have constrained state spending in a time of record budget ...

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CT Legislative Leaders And Lamont Are Gridlocked On Spending Cap

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Apr 20, 2023 · Lamont assures CBIA that CT’s spending cap is ‘sacrosanct’ The $51 billion, two-year budget endorsed this week by the Appropriations Committee would boost spending by …

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Treasurer: CT Saves Big By Not Stashing Transportation Funds

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Jan 7, 2025 · Lamont assures CBIA that CT’s spending cap is ‘sacrosanct’ ... Russell and Gov. Ned Lamont challenged legislators last year to cap the STF reserve at 18% and use the rest of …

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CT Has $340M In COVID Grant Interest. Legislators Just Learned Of It

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2 days ago · Lamont assures CBIA that CT’s spending cap is ‘sacrosanct’ ... Lamont’s budget spokesman, Chris Collibee, said the administration asked the treasurer’s office in the spring of …

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Lamont Administration Could Cut Town Aid But Expects It Won’t

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Jun 13, 2024 · The spending cap technically didn’t allow for any more expenditures next fiscal year beyond the $26 billion bottom line Lamont and lawmakers previously had agreed upon.

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Could CT Budget Face Emergency Cuts Despite Plan To Save $1.2B?

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Oct 24, 2024 · Unless current trends reverse themselves, state officials could find themselves in the awkward position soon of making emergency program cuts to keep Connecticut’s budget …

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FAQs about Lamont assures CBIA that CT’s spending cap is ‘sacrosanct’ Coupon?

Is Connecticut's spending cap'sacrosanct'?

Gov. Ned Lamont told a business audience Wednesday that Connecticut’s spending cap, one of the so-called fiscal guardrails that have constrained state spending in a time of record budget surpluses, is “sacrosanct.” ...

What was Lamont's strongest defense of the spending cap?

It was Lamont’s strongest defense of the spending cap, though he was not as definitive on another guardrail: a mechanism called the volatility cap that diverts certain revenues to budget reserves and paying down debt and pension liabilities. ...

Is the state spending cap a straitjacket?

The spending cap pegs what the state can spend to growth in personal income or inflation, metrics that Lamont says imposes a welcome and reasonable degree of discipline on government. “I think it’s sacrosanct. I think it’s really important,” Lamont said. “As I said before, it’s not a straitjacket. ...

What did Connecticut Governor say at the Economic Summit?

The governor’s comments to the annual economic summit of the Connecticut Business and Industry Association in Hartford came as Democratic legislative leaders and social services advocates are pressing for greater flexibility, especially in the volatility cap. ...

Did Lamont veto a state aid bill based on unemployment?

Last year, Lamont vetoed a vaguely written bill that was intended to provide up to $3 million in state aid to striking workers without explicitly saying so. It would have drawn on a state fund and not rely on unemployment. The governor said Wednesday he remains opposed to either approach, but Looney was not deterred. ...