High CT Net Tax-Supported Debt: CT GOP “will continue to protect the fiscal guardrails”

Sen. Ryan Fazio, Sen. Tony Hwang, Ranking Senator of the Bonding Subcommittee of the Finance Revenue and Bonding Committee, Sen. Henri Martin, Ranking Senator on the Finance, Revenue and Bonding Committee, and Sen. Stephen Harding today issued the following statement regarding Connecticut’s net tax-supported debt as a percentage of its own revenue greatly exceeding all other states for fiscal year 2022.

“We’re number one, but…Connecticut’s leading the nation in the wrong category. This report shows why Connecticut must continue to adhere to the smart bipartisan fiscal guardrails that Republicans led to passage in 2017 when we had an 18-18 Republican-Democrat tie in the State Senate. That fiscal discipline has been serving taxpayers well: steadily paying down on our state’s credit card, limiting spending and borrowing, and even enabling tax cuts. To casually throw those guardrails out the window – as majority Democrats will most definitely do in 2025 – would be an epic and resounding error. Republicans will continue to protect the fiscal guardrails, and we are pleased that the governor is our ally in this defense.”