Legislators to break Lamont’s ‘debt diet’ by more than $1B

From CT Mirror.

The Democrat-controlled legislature is expected to approve a two-year, $4.7 billion bond package Wednesday that shatters Gov. Ned Lamont’s planned “debt diet” for state borrowing by more than $1.1 billion.

The House of Representatives approved the borrowing plan 126-20 following a one-hour, early-afternoon debate. The Senate approved it 31-5 at 6:40 p.m., following a two-hour debate.

And while Democrats insisted the bond package they negotiated with the governor would advance economic development, affordable housing, municipal aid, transportation and other priorities, Republicans countered Lamont’s reversal would weaken Connecticut’s standing on Wall Street.

More than half of the Republicans in both chambers voted for the bill. But Senate Minority Leader Len Fasano, R- North Haven, said that was because the package included three overdue state grants to cities and towns that are paid for using bonded dollars, adding that many legislators were worried that would face criticism back home if they voted “no” on Wednesday.

See the complete article from CT Mirror online.