Bipartisan Budget Passes; No New Taxes, No Tolls for Fiscal Year 2019May 10, 2018
Thanks to some Republican leg work and a compromise between the two parties, a budget passed the Connecticut legislature on Wednesday with no tax hikes and no tolls.
Republicans have the minority in the Connecticut House of Representatives, and an effective minority in the Connecticut Senate (because Lt. Gov Nancy Wyman (D-Conn.) holds the tiebreaking vote in an 18-18 chamber).
But, thanks to some Republican legwork over the past few weeks, and, ultimately, compromise between the two parties, Connecticut’s legislature passed a fiscal year (FY) 2019 budget on Wednesday night that neither raises taxes nor implements tolls in the state.
A few key points from the budget:
- It appropriates $865 million less in FY 2019 than originally planned ($19.02 billion now vs. $19.89 billion then)
- It features no new taxes for FY 2019
- The budget gives no authority for tolls in FY 2019
- It eliminates the projected deficit in FY 2019, and in fact projects a $23-million surplus
- The budget doesn’t eliminate Connecticut’s deficit problems going forward, though; the projected deficit for FY 2020 is $1.96 billion, and is $2.5 billion for FY 2021
The projected $4.46 billion deficit in FYs 2020 and 2021 will be a top priority of the next governor, and the next set of legislators elected this fall.
November elections will play a key role in determining how Connecticut’s leaders close the $4.5-billion gap, in 2019 and beyond.
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