Connecticut Voices for Children released a new report titled, “Connecticut’s Fiscal Controls: Options for Responsible Adjustments,” a comprehensive new report analyzing the state’s fiscal controls and their impact on children, families, and the broader economy. This report is being released in conjuction with Voices’ 24th Tax and Budget Forum.

Since the implementation of sweeping fiscal controls in 2018, Connecticut has achieved a remarkable $12.5 billion in surpluses, more than doubling budgeted expectations and reflecting a strong commitment to long-term financial stability. However, the report reveals that this fiscal success has come at the expense of immediate public needs and critical investments in children and families.

The report offers actionable recommendations for a balanced, pro-economic growth approach, including adjustments to the volatility cap, revenue cap, spending cap, and surplus allocation rules. These changes aim to ensure the state can meet the immediate needs of children and families while fostering long-term economic growth and reducing liabilities relative to the size of the economy.