New Research Shows Overwhelming Public Support for Fiscal Guardrails

As state lawmakers continue to debate the future of Connecticut’s budgetary policies, a new voter survey reveals strong bipartisan backing for the state’s fiscal guardrails.

Conducted by Global Strategy Group, the survey highlights overwhelming public support for the state’s fiscal savings mechanisms, reinforcing their role in stabilizing Connecticut’s long-term financial outlook.

The poll of 600 registered voters found that 83% of Connecticut voters support the guardrails, including large majorities of Democrats, Republicans, and Independents.

The research also underscores residents’ growing concerns over inflation and cost-of-living pressures, with voters prioritizing financial discipline in state governance.

Revealing results from a new survey highlighting voter opinions on the state's fiscal guardrails. There's overwhelming bipartisan support, with 83% in favor of maintaining the guardrails, essential for the state's long-term economic success. #reimaginect https://t.co/SRzppPYEEg

— Chris DiPentima (@ChrisDipentima) March 20, 2025

Key takeaways include:

• Cost-of-living concerns dominate public opinion. Taxes (46%), energy costs (40%), healthcare expenses (28%), and affordable housing (26%) top the list of issues voters want the General Assembly to address.
• Support for the guardrails holds firm even after hearing counterarguments. While opposition messaging reduced initial support, 69% of voters—including 65% of Democrats and 73% of Republicans—still back the guardrails.
• Connecticut voters favor a balanced budget. 93% of respondents say they believe it is important that the state maintain a balanced budget.
• Voters believe spending flexibility exists within current budgetary resources. After being informed of the state’s $900 million in available spending room, 76% of voters believe lawmakers should work within the guardrails to use available resources, rather than altering these laws in order to spend more.

White Paper Highlights Economic Impact

In addition to voter research, the Connecticut Business Roundtable released a white paper in partnership with Economic Leadership LLC examining the broader economic impact of the fiscal guardrails.

The Fiscal Guardrails—Risk Reduction for the Future report underscores how the policies have reduced financial risks for Connecticut, improved the state’s credit ratings, and positioned its local economy for future competitiveness.

Key insights include:

• Despite progress, Connecticut’s fiscal health remains a competitive challenge. Connecticut ranks 49th among all states for fiscal stability and 43rd for affordability, according to U.S. News & World Report.
• National trends highlight the importance of fiscal discipline, if Connecticut wants to become more competitive. Other states—including Texas, Michigan, and Massachusetts—successfully strengthened their economies by implementing long-term liability reduction strategies. Connecticut must stay on its current path in order to compete.
• While some say the guardrails are now collecting too much money, there is clear evidence that volatility levels in recent years should not be counted on in the years to come. While recent revenues have been volatile to the upside resulting in large surpluses, they have been more volatile since fiscal 2018 relative to the preceding decades. Volatile revenues are heavily influenced by capital gains and tax policy, both of which have seen abnormal changes in the past seven years. Making adjustments to the guardrails now based only on data since 2018 would be unwise.
• While the guardrails contributed significantly to paying down Connecticut’s long-term debt, there is much work still to be done. In recent years, paying down unfunded pension liabilities has meant that taxpayers will save an estimated $18.4 billion over the next 20 years. However, there is more work to do: Connecticut still has one of the nation’s most underfunded pension liability problems that continues to impede its ability to compete against other states, locally and nationally.

Looking Ahead: Debate Over Potential Adjustments

While the fiscal guardrails have delivered clear benefits, discussions at the state Capitol persist about whether certain modifications are warranted.

With lawmakers set to deliberate on potential changes in the coming months, the Connecticut Business Roundtable’s findings serve as a timely reminder of the fiscal responsibility that voters continue to demand.