Lamont eases up on debt diet to win support for truck tolls

Lamont eases up on debt diet to win support for truck tolls

Lamont now is recommending $2.5 billion in new borrowing for the fiscal year than ends June 30, and $2.61 billion for 2020-21. At issue is a subset of those proposals, about $1.4 billion each year in general obligation (G.O.) bonding. This involves borrowing which, if approved, would have to be paid off out of the General Fund, the same part of the budget that supports municipal aid, higher education, social services and other popular programs. The $1.4 billion in annual G.O. bonding Lamont now endorses is earmarked for job development and other economic development initiatives, affordable housing, renovations to courthouses and other state facilities, and grants for libraries and nonprofit social service agencies. The governor is hoping that his fellow Democrats in the legislature will be appeased by this enough to support a major transportation rebuilding program.

Lamont eases up on debt diet to win support for truck tolls

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