Connecticut’s $300 million endowment to fund the expansion of early childhood education is being studied as an innovation by other states, according to state officials.
The early childhood endowment was officially funded at the end of June when surplus money from the state’s fiscal year 2025 budget was transferred to the state Treasurer’s Office.
“Connecticut is really setting a national model,” said Treasurer Erick Russell, who anticipates a 6.9% annual return on the money.
“I was just sitting down with other treasures who had already heard about this legislation and were trying to think of creative ways that they could build out a similar model for investment in early childcare in their states,” he said.
“I think we can look back in 2050 and say this is a day we said we are taking care of our kids. Every one of them. From the point of birth. Making sure we make an investment in them,” said Governor Ned Lamont, who had pushed for the endowment as one of his legislative priorities.
“It gives our kids the very best opportunity in life. A little more affordable for mom and dad. And I hope the rest of the country takes notice,” Lamont said.
The goal is to expand early childhood education to tens of thousands of additional children, at no cost to families earning up to $100,000 a year, and at a reduced cost to those earning above that.
Republican lawmakers have criticized the endowment, saying it's an off-budget slush fund that exists outside the limits of the state government spending cap.
