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 ...
What are the major cost driver's of Connecticut's deficit in 2020?
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.
This year we’ve tried to shine a light on Connecticut’s bonded debt, as well as our pension and retiree healthcare liabilities. When all of this debt is combined, Connecticut is one of the most indebted states in the nation. A new report by J.P. Morgan’s Michael Cembalest provides additional clarity.