From Bridgeport’s State House delegation:
State Representatives Chris Rosario (D-Bridgeport), Antonio Felipe (D-Bridgeport), Fred Gee (D-Bridgeport), Andre Baker (D-Bridgeport), Cristin McCarthy Vahey (D-Fairfield, Bridgeport), Steven Stafstrom (D-Bridgeport) and Marcus Brown (D-Bridgeport) applaud a budget that brings millions in additional municipal funding and a major funding boost for enhancements to the Total Mortgage Arena.
“I am proud of the hard work of the Bridgeport delegation in making sure our city is well represented in the budget. This additional funding will help to keep property taxes in check and will serve to support a magnificent entertainment venue that is the Total Mortgage Arena,” Rep. Rosario said.
“Given the financial guardrails we were working under, this budget still delivers for Bridgeport,” Rep. Felipe said. “This is a testament to a delegation that works together to bring the resources home.”
“The Bridgeport delegation worked hard to advocate for and ultimately deliver on funding for the city,” said Rep. Stafstrom. “The new two-year state budget expands funding for our schools, including special education, while holding the line on local property taxes. Spending under the constitutional cap during both years while delivering for Bridgeport residents is a winning formula.”
“I was proud to work collaboratively with the delegation to achieve results for the people of Bridgeport and our region,” Rep. McCarthy Vahey said. “I want to thank the other members of the Bridgeport delegation for their commitment and dedication to our constituents.”
“This budget provides the two largest tax cuts in our state’s history while still paying down our long-term liabilities,” Rep. Gee said. “I’m proud of what this budget accomplishes, and I applaud my colleagues for all their hard work.”
“The Bridgeport delegation secured record funding for our city, even under the fiscal guardrails in place,” said Rep. Brown. “This additional funding will support our schools, revitalize the Total Mortgage Arena, and bring historic tax cuts to our residents. I am proud of our work and look forward to the work we will continue to do to make Bridgeport a great city.”
The balanced bipartisan budget that was passed increases funding to towns, PILOT payments, local schools, special education, and choice tuition assistance. It accomplishes this while under the constitutional spending cap in both years – following the financial guardrails that were authorized at the beginning of session.
Some additional highlights of the budget:
- Deposits $3.3 Billion into Rainy Day Fund – keeping our credit ratings high and preparing us for any potential economic downturn
- Allows us to pre-pay an additional $2.072 Billion dollars in unfunded pension liability
- Includes the largest and second largest tax cuts in the State’s history
- Cuts business taxes to promote expansion of childcare facilities ($2.2m FY 24/$4.3m FY 25)
- Incudes historic investments of over $30 million for residents with Intellectual and Developmental Disabilities (IDD)
