During a deep dive into the newly unveiled budget, secretary of the Office of Policy and Management Jeff Beckham made Gov. Ned Lamont’s stance on CT Baby Bonds crystal clear.

The budget includes $50 million in bonding for the program in FY 2025, but Beckham said that this merely recognizes bonding that has already been authorized by the legislature.

“We’re not making any new proposals with regard to that program in this budget,” said Beckham. “As the Governor stated many times, he does not support this program.”

However, some early champions of the program still have hope it will go through in some form or another.

“I don’t think it’s dead,” said Sen. Marilyn Moore when told of Beckham’s statement.

“I spoke to the Treasurer and he told us he was committed to getting it done,” explained Moore, though she added that Treasurer Erick Russell may consider an alternative to bonding to finance the program.

[GO DEEPER: Political clashes leave CT Baby Bonds program in limbo]


Katy Golvala is a member of our three-person investigative team. Originally from New Jersey, Katy earned a bachelor’s degree in English and Mathematics from Williams College and received a master’s degree in Business and Economic Journalism from the Columbia Graduate School of Journalism in August 2021. Her work experience includes roles as a Business Analyst at A.T. Kearney, a Reporter and Researcher at Investment Wires, and a Reporter at Inframation, covering infrastructure in Latin America and the Caribbean.