Senator Linares Statement on Hartford Bailout

I object to the financial assistance agreement with the City of Hartford that was signed by the state Treasurer and Secretary of the Office of Policy and Management. The 20-year promise to pay more than $500 million of our capitol city’s debt bears no resemblance to the two-year, $40 million agreement legislators agreed to.

Connecticut is in the midst of a financial crisis that has seen significant reductions in state support to local communities. Towns have been told the state does not have enough money for our schools, for our roads, or for important services our residents rely on. To now say the state will cover the debts of a long mismanaged capitol city is a slap in the face to our towns and taxpayers.

I agree with Senate Republican President Pro Tempore Len Fasano and House Minority Leader Representative Themis Klarides, future operating aid to Hartford must be reduced by the amount of debt service paid by the state. To do anything else is grossly unfair to Connecticut taxpayers.