(HARTFORD, CT) – Governor Ned Lamont and Office of Policy and Management Secretary Jeffrey Beckham released the following statements in response to the April 30, 2025, consensus revenue forecast that was jointly issued today by the Office of Policy and Management and the Office of Fiscal Analysis:
Governor Lamont said, “Connecticut’s current fiscal year outlook remains positive, but there are troubling signs for fiscal years 2026 and 2027. The economic policies coming out of Washington are directly impacting our state’s economic future, as evidenced by leading indicators such as consumer confidence, which is already causing a downward revision in sales tax revenue. Over the coming weeks, I will be working with legislative leaders to pass an honestly balanced budget that protects Connecticut’s core values, provides flexibility for inevitable federal cuts, and adheres to our statutory and constitutional budget obligations.”
Secretary Beckham said, “Our fiscal house has been rebuilt to weather an economic downturn. Now is not the time to tear it down; we must protect what we have long fought to achieve and provide a balanced state budget for the next two years. When we passed the largest income tax cut in state history, we did so with the intent that it be sustainable. The budget we will be working on over the next few weeks must ensure that state spending is sustainable and will not lead to future tax increases or service cuts.”