Gov. Ned Lamont has been the state’s top political power player for six years, but it’s not clear how much longer he will hold onto that mantle.
Lamont, in his seventh year in office, said he will make a decision after the 2025 legislative session, which ends in June, about whether he will run for a third, four-year term.
The Democratic governor is relatively popular, having enjoyed the fruits of overseeing six consecutive budget surpluses.
But Connecticut’s fiscal cushion is beginning to erode, especially as federal pandemic-era aid dries up. In February, Lamont proposed a two-year, $55.2 billion budget that eases one of the state’s key fiscal guardrails and raises corporate taxes by nearly $348 million over the next two years.
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That’s raised concerns from the business community, which Lamont has had a relatively strong relationship with during his tenure.
The former businessman-turned-politico said his main priorities this session include launching a major early childhood development initiative, providing a small income tax cut and boosting Medicaid rates for caregivers.
On the economic development front, he’s proposed spending $50 million over the coming two years to help finance the conversion of empty commercial buildings into new uses; $35 million annually for brownfield remediation projects; and $150 million over two years to recapitalize the Manufacturing Assistance Act fund.
Annie Lamont is a successful healthcare venture capitalist and informal adviser to the governor. She is co-founder and managing partner of Stamford-based venture capital firm Oak HC/FT, where she focuses on growth equity and early-stage investments in healthcare and fintech companies.
She has significant influence in the venture capital industry and is often quoted in major financial news outlets, including Bloomberg, Forbes and Barron’s.
She also sits on Bloomberg’s board of directors.
In 2023, Oak HC/FT was named one of the 10 best-performing growth equity firms in the world. She’s received numerous other accolades, including being named to Forbes’ Midas List multiple times as the top-ranking investor in health care.
Prior to founding Oak HC/FT, Lamont spent 28 years at Oak Investment Partners, where she served as managing partner and led the healthcare and fintech practices.