Connecticut Mirror: Democrats to Lamont: Ease fiscal restraints for CT schools’ sake

Leaders of the Democratic legislative majorities, intent on seeking greater education aid for municipalities, are urging Gov. Ned Lamont to relax some of the fiscal restraints that contributed to the state’s huge surpluses and the governor’s overwhelming reelection in 2022.

Lamont and Democratic leaders, who opened talks Wednesday, downplayed their differences in interviews Thursday, noting bipartisan support for maintaining a so-called volatility cap — one the fiscal “guardrails” that ensured that a run of surpluses was used to pay down debt and fill budget reserves.

The Democratic legislative leaders are asking Lamont to forfeit a fraction of the savings program that has helped to amass more than $9 billion in surpluses over the past five years, freeing money that can bolster education aid for cities and towns.

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Lisa Hammersley, executive director of the School and State Finance Project, praised legislative leaders for their focus on equitable school funding.

“It is no stretch to say passing this bill would be a landmark achievement and truly life-changing for students, families, and educators across our state,” Hammersley added. “This historic investment in Connecticut’s future would ensure every student has access to a high-quality education that allows them to reach their full potential, help schools hire and retain high-quality teachers, and develop our state’s workforce to help our businesses and economy grow.”

Read the full article at https://ctmirror.org/2023/01/27/ct-ned-lamont-school-funding-budget-surplus/