Connecticut Gov. M. Jodi Rell Wednesday afternoon announced an economic stimulus package involving the sale of $525 million of bonds for statewide infrastructure projects.
“With each passing day of this national recession, it becomes abundantly clear that Connecticut cannot wait for federal stimulus money to put our own economy back on track,” Rell said in a press release. “But what we can do — and must do — is undertake this special effort to invest in those projects that will help jump-start our recovery.”
Rell pushed the Connecticut stimulus package as a means to boost employment and to relieve localities of approximately $310 million in school construction costs. It also includes more than $35 million for major road and bridge repair and commuter rail improvements, $135 million for wastewater treatment, and assistance for manufacturers.
“Municipalities are under tremendous financial burden and their leaders face the difficult decision of cutting services or raising taxes. This money will help ease some of those pressures,” Rell said.
The governor said she expects the bonding to be approved by the State Bond Commission at its Jan. 30 meeting.
Rell made the announcement as she readies her fiscal 2010 and 2011 budget proposal, which needs to close a $8 billion budget gap. Connecticut faces a current year deficit of $921.9 million.
