SOUTHBURY, Conn. (AP) - Connecticut Gov. Ned Lamont says he wants to cut back on state borrowing for school construction and other projects.
The Democrat said Tuesday at a gathering of business leaders in Southbury that he wants to trim back the state’s annual bond authorization to less than $1 billion. Under his predecessor, Democratic Gov. Dannel P. Malloy, the state averaged nearly $1.6 billion worth of bond authorizations annually.
Lamont said the state will continue to contribute to construction and renovation of public schools through the bond package but state officials will be selective. He said the state needs to go on a “debt diet” to reduce its long-term bonded indebtedness
The governor is expected to present his first state budget proposal next week.
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