Comptroller Sean Scanlon Projects $85.9 Million Surplus
Update spotlights most consequential economic factors for 2026
(HARTFORD, CT) – Comptroller Sean Scanlon today, in his monthly financial and economic update, projected a Fiscal Year 2026 General Fund surplus of $85.9 million and a Special Transportation Fund surplus of $46.5 million, both in general agreement with the Office of Policy and Management’s projections. This month’s Economic Update fleshes out policies and events that will shape the country’s financial picture in 2026.
“Our surplus continues to fluctuate as different national policies play out, but I continue to be confident in Connecticut’s underlying fiscal health,” said Comptroller Scanlon. “Moving forward, we’re keeping a close eye on policy at the Fed now that a new chairman has been named as well as the continued impact of changing federal policy. Connecticut can’t plug every hole this economy or this administration may create in 2026, but we are better positioned than most states to blunt the impact on our residents and families given our continued surplus and sizeable Rainy Day Fund.”
In his letter to Governor Ned Lamont, Comptroller Scanlon noted that this month’s surplus is $50.4 million lower than last month and $223.1 million less than budgeted. This month’s decrease is, in part, due to the $59.7 million downward revision from January’s consensus revenue report. Although there were some positive adjustments, such as Sales and Use Tax up $67.0 million and Indian Gaming Payments up $20.0 million, they were offset by a $100.0 million increase in expected Refunds of Taxes and other changes.
The Budget Reserve Fund, also known as the Rainy Day Fund, remains full at its statutory cap of 18% of net General Fund appropriations for Fiscal Year 2026. Additionally, $303.4 million remains available in the fund the legislature set aside for response to federal funding actions.
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