Yankee Institute, one of the nation’s oldest state-based think tanks, applauds Gov. Ned Lamont’s emphasis on “affordability and opportunity” in the State of the State Address, delivered earlier today at the state Capitol.
“Key themes in the Governor’s speech align with Yankee Institute’s vision of creating a Connecticut where families can stay, grow, and prosper together — and where businesses can thrive,” said Yankee Institute President Carol Platt Liebau. “Holding down energy costs, reforming education, and helping taxpayers keep more of what they earn are key to attracting and keeping people in our state.”
The governor did not directly reference the 2017 spending reforms, known as the “fiscal guardrails,” but did emphasize that the state has “broken the bad habits of the past” by “paying down these legacy costs,” which have already freed up nearly $700 million in the budget. Additionally, the fiscal guardrails have saved Connecticut more than $170 million since being enacted and, if kept intact, can save the state $7 billion over the next 25 years. (Learn more in Yankee Institute’s policy report, “The Case for CT’s Fiscal Guardrails: How to Protect Public Pensions and Taxpayers,” here.)
“If Gov. Lamont is serious about ushering in an era of affordability and opportunity in Connecticut, then he certainly realizes how important it is to defend the integrity of the fiscal guardrails,” said Liebau. “The fiscal guardrails have given Connecticut a second chance. They’ve proven that disciplined spending and long-term planning can deliver tangible benefits for residents, job creators, and public services alike. It would be a tragic mistake to roll back this progress now. We cannot afford to risk our children and grandchildren’s fiscal security by to altering them just as they’re truly proving to be effective.”
She added, “In the coming months, we look forward to working with the governor and lawmakers on addressing affordability and opportunity issues to empower the people of Connecticut to forge a brighter future for themselves and their families.”
The governor also addressed rising energy costs and demand, especially when electricity bills skyrocketed this past summer due to the increased Public Benefits Charge, which passes along to consumers the costs of the government mandates imposed on power companies for a variety of state energy policies. Yankee Institute has been at the forefront on this issue, calling on lawmakers to provide immediate relief. Moreover, YI has published a breakdown of energy bills, titled, “Why Your Electric Bill is So Expensive.”
Meanwhile, on energy, Gov. Lamont asked for the U.S. Congress to “rethink” the Merchant Marine Act of 1920, otherwise known as the Jones Act. This regulation blocks foreign-flagged ships from moving goods between U.S. ports. Yankee Institute has long promoted the repeal of this stringent law (as seen in the 2022 Charter for Change).
Throughout the speech, the governor covered healthcare and education concerns as well, both of which Yankee Institute has been — and will be — offering policy solutions in its publications, including Reforming Connecticut Healthcare after COVID and the forthcoming Tax-Credit Scholarships Across the US: A Roadmap for Connecticut to Follow, which will be released in January.
For the 2025 legislative session, Yankee Institute has created a “Legislative Toolkit” with research supporting its policy positions, along with a “Take Action” platform, providing Connecticut residents a mechanism to contact their representative and/or Senator.
