(HARTFORD, CT) – Governor Ned Lamont and Office of Policy and Management (OPM) Secretary Jeffrey Beckham released the following statements in response to the January consensus revenue forecast that was jointly issued today by OPM and the Office of Fiscal Analysis:
Governor Lamont said, “The era of the permanent fiscal crisis in Connecticut is over, but we cannot forget the steps that have helped get us to this point today. This revenue forecast will allow me to present a budget with a sustainable middle-class tax cut, pay down legacy pension debt, support education, childcare programs, workforce development, new housing, essential social services, and public safety programs, as well as preserve the fiscal guardrails that have been so critical to our recent budget stability.”
Secretary Beckham said, “This consensus revenue forecast provides additional guidance as we finalize the governor’s biennial budget proposal to achieve his goals for this legislative session. It is important to remember there will be another consensus revenue forecast before the end of this legislative session that will include additional data regarding the health of our economy. We are closely monitoring global, national, and state economic forces that could positively or negatively impact the final state budget. Now is not the time for new unsustainable spending, but rather continued sound fiscal management.”
The next consensus revenue forecast will be released on May 1, 2023. Governor Lamont will present his state budget proposal for the next biennium to the legislature in February.