CCM Response To OPM Anouncing New $91 MIllion Cut in State Aid

CCM Response To OPM Anouncing New $91 MIllion Cut in State Aid

For Immediate Release

Friday, November 17, 2017

After finally settling on a state budget less than a month ago, municipal leaders believed they had the clarity to proceed forward on their own budgets and spending for the current fiscal year. But now, new additional cuts approaching $100 million must be absorbed – through service reductions or local tax hikes – nearly halfway through the fiscal year. Municipal governments will have increasing difficulty trying to managing their current year spending, having to again adjust for a shortfall in revenues less than a month after being told to count on a defined level of state aid.

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Municipal leaders released a report prior to the last session to try and stabilize government finances and avoid this reoccurring volatility. Unfortunately, the General Assembly failed to enact many of those necessary reforms.  CCM will continue to promote a reform agenda that can stabilize Connecticut’s finances and put the state back onto a path for growth. In light of these recent developments, we can only hope that legislative leaders will be more willing to work with CCM and its member municipal leaders going forward.