Excellent Fiscal News for Connecticut’s Budget Reserves
November 1, 2021
I would like to share some excellent fiscal news regarding Connecticut’s rainy-day fund. Our state currently has $3.1 billion saved in this fund, making Connecticut a national leader in budget reserves! The Pew Charitable Trusts found that, in 2020, Connecticut’s reserves grew the second-fastest nationally, even in the midst of a global pandemic. With $3.1 billion in savings, the state has the ability to operate essential programs and services such as education, healthcare, and municipal aid for nearly 70 days in the event of an economic downturn or natural disaster. |