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What is the budget for the state of CT in 2024?

Lamonts latest proposal adds $89 million to the preliminary, $26 billion budget legislators approved last June for the 2024-25 fiscal year. The legislature passes a two-year budget in odd-numbered years, then considers adjustments to the second half of the biennial plan in even-numbered years.

What is the new budget for Connecticut?

The preliminary, $26 billion budget for 2024-25 has a built-in operating surplus of nearly $300 million. And a program that forces legislators to save a portion of volatile income and business tax receipts is projected to capture roughly $450 million more.

How does a fiscal note affect the legislative process?

Fiscal notes are intended to accurately and objectively describe the fiscal impact of bills and amendments so the Legislature can make informed decisions with respect to state and local government finances.

Is Connecticut in debt?

The U.S. and the State of Connecticut are sinking deeper into debt. The skyrocketing national debt receives widespread media attention, Connecticuts almost none. Uncle Sams growing debt is highlighted and explained by huge budget deficits, while Connecticuts increasing liabilities are hidden behind budget surpluses.

What is the fiscal year for the state of Connecticut?

Connecticuts fiscal year runs from July 1 through June 30.

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