Connecticut Comptroller Sean Scanlon is concerned that the war in the Middle East might affect the state’s economy.
His latest projection anticipates the state will end its fiscal year with a $77 million budget surplus. But he’s concerned that volatility in the oil markets caused by the war might affect the state’s economy, he said on Monday.
“In addition to my general concerns about us starting another war in the Middle East that doesn’t have a definitive end game,” he said,
“What is the impact of this economically on top of an already uncertain and fragile economy because of the recent change to the president’s tariff policies, on top of what impact both of these things will have on the affordability crisis in the state of Connecticut?” said Scanlon.
He said President Trump’s tariffs have cost small businesses and families in the state an estimated $1.7 billion.
In the meantime, Connecticut’s rainy day fund is still projected to reach more than $6 billion by the end of the fiscal year on June 30th.
