Connecticut’s budget increased cumulatively more than pop+inf in state funds and all funds from 2014-23, meaning that taxes are higher than the average taxpayer can afford.

  • The 2023 state funds budget is $7.2 billion higher than it would have had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent and taxed $33.9 billion too much.
  • The 2023 all funds budget is $13.2 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds grew faster than population growth plus inflation over the past decade, the state spent and taxed $51.3 billion too much.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $34.95
  • FY 2025 Only State Funds Budget Limit ($ Billions): $36.95
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 5.73%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $2,003
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $8,012
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: $9,378
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: $37,513

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $47.50
  • FY 2025 All Funds Budget Limit ($ Billions): $50.22
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 5.73%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: 3,645
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: 14,579
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: 14,187
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: 56,747

Other Considerations