#HARTFORD, CT – Governor Dannel P. Malloy today announced that he is calling for bipartisan meetings on the state budget, with the aim of addressing the short-term budget shortfall while also improving Connecticut’s long-term budget outlook and economic competitiveness. With Wall Street on a significant, unpredicted downturn, further tough decisions need to be made. As such, the Governor is inviting leaders of both parties into bipartisan talks that – if successful – could lead to a special session on the budget later this year.
The Governor announced that next week he will lay out his principles for addressing our budgetary needs in the short-term and beyond. That means setting priorities and making smart, pragmatic decisions about spending cuts now, so that Connecticut continues to live within its means and keeps its current budget in balance. It also means incorporating common-sense solutions to help state employers grow jobs, which will help keep our economy – and our state budget – on solid ground in the years ahead.
The Governor encouraged leaders of both parties to develop their own realistic and concrete proposals in order to be part of the solution.
“We’ve heard the calls and seen the press releases,” Governor Malloy said. “Now, we’ll have an opportunity for all of us to talk about specific, concrete ideas to move Connecticut forward. We must use the economic reality of the moment to have a real discussion – not just in the Capitol, but across Connecticut – about how we balance our budget this year, while continuing to build and grow for the long-term. It’s time for all of us to make tough decisions – and make them together.”
Lt. Governor Nancy Wyman said, “Just as we come together to applaud funding local programs and services, we must come together to fully understand and work through Connecticut’s fiscal problems. The people of Connecticut expect their leaders to find real solutions to these complicated budget challenges. I stand with the Governor in his call for realistic and strong proposals from both sides of the aisle.”
Today’s announcement was prompted by new revenue projections from the Office of Policy and Management – sent to Comptroller Kevin Lembo today – identifying an approximately $120 million revenue shortfall, which amounts to roughly half of one percent of the overall budget. As a result, the Governor is calling for bipartisan discussions not just among leaders, but among the citizens of the State of Connecticut. That discussion will include steps state leaders will undertake to get spending under control in the short-term, while improving the business climate in the long-run.
(Officer of the Governor Press Release)
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