Consensus revenue report shows CT is rebounding from COVID economy

Connecticut
Connecticut_State_Capitol,_Hartford_300164

HARTFORD, Conn. (WTNH) — The state is bringing in more money than forecasted. Connecticut leaders said it appears the state will end with nearly $1 billion in surplus this year.

Newly released numbers show the economy is rebounding from one year ago.

But, Secretary of the Office of Policy and Management Melissa McCaw said, “that must be balanced with the fact that our state’s unemployment rate is still 8.3% and above the national average.”

Senate President Martin Looney (D-New Haven) and Speaker of the House Matt Ritter (D-Hartford) said, “Our balanced budget approach means ensuring we receive the federal funds our taxpayers are due. We get a big return on federal dollars for every dollar we invest in nursing homes and long-term care workers. These frontline workers are true heroes of the pandemic and Connecticut owes them a debt of more than gratitude.”

Lawmakers are currently negotiating the two year estimated $64 billion budget.

The legislative session ends June 9.

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