Rep. Courtney Statement On Release Of State Fiscal Stabilization Funds
Congressman Joe Courtney, a member of the House Education and Labor Committee, is pleased by the announcement that the U.S. Department of Education has released more than $363 million in funds through the State Fiscal Stabilization Fund (SFSF) of the American Recovery and Reinvestment Act of 2009, which the Connecticut Congressman supported.
"The release of the State Fiscal Stabilization Funds is welcome news for school districts and local taxpayers throughout Connecticut. These desperately needed funds will fill an inevitable hole when funding for Education Cost Sharing (ECS) is cut by the State of Connecticut. If distributed wisely and responsibly, the SFSF funding may help to thwart thousands of layoffs of teachers across the state."
"Towns are fast approaching the start of their fiscal year and this critical funding could not have come quickly enough from Washington. I believe it is imperative that the State Department of Education and the Executive Office move aggressively to create lasting reforms on a wide-range of education initiates."
"The federal government, with my support, has also offered states receiving SFSF an opportunity to compete for significant funding through the Race to the Top' program. I urge the State of Connecticut to expeditiously determine a path forward to meet the requirements of this program to unlock this additional source of financial support."