Photo by Patrick Raycraft/Hartford Courant/TNS/Sipa USA

Gov. Lamont Announces Plan To Reduce State Borrowing

February 12, 2019 - 9:56 am

HARTFORD, Conn. (WTIC) - Governor Lamont has announced a plan to scale back state borrowing.

Telling the Waterbury Regional Chamber of Commerce "we cannot put Connecticut's future on a credit card," the Governor has announced a plan to shrink the state's bonding by 39 percent. 

Between 2012 and this year, the governor notes the state averaged nearly $1.6 billion worth of bonding authorizations annually.

Under his proposed debt diet, that would drop to $960 million. Lamont says that will require officials to re-prioritize capital projects. 

Projects currently under construction will not be affected. 

The governor has also canceled the January and February Bond Commission meetings.