Connecticut Faces Budget Shortfall, Child Care Cuts
Hartford News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Connecticut Governor Ned Lamont faces a potential budget shortfall, marking an end to six years of surpluses. The current budget has a modest cushion of $33 million, down from a $309 million surplus. Eroding corporation taxes, rising Medicaid costs, and a retiree health care gap could flip this into a $6.3 million deficit. Child care advocates are frustrated as surpluses were set to fund a new early childhood endowment, now facing cuts due to the budget crunch. The proposed budget for next year shows a $234 million surplus after retiree shortfalls, with state leaders pointing to restricted savings and retiree trusts to cover gaps. Despite these fiscal challenges, Lamont remains committed to tax rebates and bolstering child care promises.
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