Sen. Fasano Statement on Connecticut Fiscal Accountability Reports

Hartford – Senate Republican Leader Len Fasano (R-North Haven) released the following statement regarding the state’s Fiscal Accountability Reports released today by the Office of Policy & Management and the Office of Fiscal Analysis. The OPM report projects a state budget deficit of $1.3 billion for the next fiscal year. The OFA report also indicates that state fixed costs have increased from 37 percent in 2006 to 53 percent in 2018 due to increased pension benefit costs and increased state bonding.

“Our state is facing a death spiral, and we must start talking about fixing it today. Connecticut cannot even keep up with its most basic everyday expenses. This report shows us what would happen if the state only funded the absolute bare-bones of our budget. Even this austere projection still leaves us with a budget deficit of $1.3 billion in the next fiscal year. That’s not even including things like inflation and promises the state has made to our municipalities and private providers. The dramatic increase in fixed costs also shows how a significant part of our state budget can no longer be used to fund social services and programs for those in need. This report shows the devastating truth that Connecticut can’t pay for core government services if we continue on the same path we’re on now.

“Republicans look forward to having more influence next year, but that doesn’t mean we should sit back the next few months and allow the state to deteriorate without legislative action. By acting today we can make changes that will make a difference next year and the year after that. If we continue to wait to address these issues, the problem will only grow worse to the point where solutions become more difficult to achieve. But even the current year’s deficit, which is relatively small compared to the massive deficit on the horizon, is something Democrats don’t want to talk about now,” said Fasano.

Sen. Fasano also addressed claims made by Gov. Malloy today regarding his administration’s fiscal policies.

“While Gov. Malloy blamed previous administrations, over six years his policies have created the situation we face today. The governor moved $1.6 billion out of the General Fund and into bonding, borrowing for what was once operating expenses. Bonded indebtedness has grown by over $4 billion under the current administration. And it was Gov. Malloy and Democrats who extended the state’s pension deal, locking us in for another five years and coming up $3.1 billion short in pension savings they claimed they would achieve through their 2011 negotiations. We need to look forward. But we also have to understand why the policies over the last six years have failed our state. We need to acknowledge the problems before we can fix them,” said Fasano.