Connecticut Politics Week in Review: Gov. Ned Lamont pitches his ‘Connecticut Comeback’ budget with no major tax hikes
Russell Blair, Hartford Courant
Gov. Ned Lamont’s new two-year budget expects an infusion of federal aid to avoid tax increases or boosts in spending in the midst of a pandemic that, while trying for the thousands of Connecticut residents who have lost their jobs and those who have been impacted by the coronavirus, has not been as bad of news for the state’s finances as once thought. Rather than a multibillion-dollar deficit, Connecticut is projected to end the current fiscal year on June 30 with a surplus due to surging tax revenue tied to Wall Street gains. To close gaps in the next two years, Lamont is eyeing more federal aid or potentially dipping into the state’s $3 billion-plus rainy day fund.