Connecticut’s latest consensus revenue forecast projects the state will end its fiscal year with a $256 million surplus.
That is due to higher than anticipated income tax revenue in April, and $170 million above the level reported two weeks ago, according to officials.
The surplus shows that Connecticut is in a solid financial situation. House Speaker Matt Ritter said there’s no need for budget adjustments before lawmakers adjourn next week.
“Folks, we are in good times. We will make a very robust contribution to the pension funds. Yes, it is volatility money. So, we’ll have to talk about that as we go forward,” Ritter said.
But House Minority leader Vincent Candelora is concerned.
“I’m not sure there’s a lot to really crow about, especially given the fact that these guys are going to gavel out without adjusting the budget as required and leave it in the hands of the governor,” Candelora said.
The consensus revenue forecast reinforces that the state is on the right path, said Democratic Gov. Ned Lamont.
The state’s legislative session ends next Wednesday.
