Gov. Dannel P. Malloy today offered his plan for the state surplus. He wants to give it back to
But he would also use the $505 million
budget surplus, excess revenue, phony surplus for the state’s rainy day fund and to reduce long-term debt payments.
“Connecticut has faced more than its share of challenges over the last few years. Now that things are beginning to improve, it’s critical that everyone shares in the recovery,” Malloy said in a statement released by his office. “The plan I’m laying out today takes the responsible path. It puts money in the rainy day fund so that we can be prepared the next time we face financial challenges. It puts additional money into our pension fund so we can pay down our long term debt. And it provides a modest refund for residents who have faced more than their fair share of obstacles.”