When Connecticut issued bonds in June of 2018, the bond covenant said Connecticut would strictly adhere to its new $1.9 billion bonding cap until 2023 — with no changes to underlying statutes and no exceptions. However, language contradicts the legislature’s loosening of the bond cap in May of 2018, allowing ...
Cash strapped New Haven is requesting $217,597 from Connecticut taxpayers for the construction of a splash pad at DeGale Field after the city gave $250,000 in bonuses to 37 management employees.
Since 2011, Connecticut has bonded nearly $1.8 billion for economic development, but the effort has produced little effect on the state’s economy. During the seven year period from 2011 through 2017, Connecticut’s gross domestic product declined 1.6 percent when adjusted for inflation, according to figures from the Bureau of Economic Analysis.
Public Transportation and Fringe Benefit Costs Grow Much Faster than Connecticut Transportation Revenue
Connecticut's transportation funding problems have been blamed on increasing debt costs, but a look at the history of transportation spending in Connecticut shows that, when adjusted for inflation, the biggest cost increases have been for public transportation and fringe benefits for employees.
Establishing tolls along Connecticut’s highways and increasing the state gasoline tax by 7 cents per gallon would allow the Special Transportation Fund to issue $1.2 billion in bonds in 2022, up from $800 million this year, according to Governor Dannel Malloy's budget proposal.