Hartford Debt Deal With State Sparks Political Debate

April 14, 2018 - 12:34 pm

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HARTFORD, Conn. (AP) - Potential contenders for Connecticut's next governor are debating whether the state should eventually pay off $550 million of the capital city's debt.
Some view it as an unfair taxpayer-funded bailout.

Others consider the agreement a step toward Hartford's eventual fiscal stability. 
Some fear that other cash-strapped cities will expect the same treatment from state officials, with independent gubernatorial candidate Oz Griebel calling it ``a horrific precedent.''
But Hartford Mayor Luke Bronin, who is exploring a Democratic run for governor, says having the state assume Hartford's annual debt payments over the next 20 years will help the city avoid bankruptcy, stabilize its finances and focus on developing economic growth.
He contends that's good for both Hartford and the state. 
This year's governor's race has attracted more than two dozen candidates.

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