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.
Despite the suspension of 400 infrastructure projects around the state, Gov. Dannel Malloy’s $100 billion Let’s Go CT initiative is still moving forward, albeit at a slower pace, with $3.7 billion in bonding over the next five years.
Connecticut’s bond commission just approved another $1 billion in general obligation bonds to be issued for schools, capital projects and tax credits to businesses, but beginning in 2018 the state will begin to issue a new type of bond. Included in the bipartisan budget package was a provision to issue new revenue bonds tied directly to Connecticut’s income tax, which the Treasurer’s office described as “stable and strong.”