Now’s the time to comment on budget, taxes

(May 18, 2007) The Rell administration and legislative leaders are trying to finalize the details of the next two-year budget for the state of Connecticut. CBIA members should contact the governor and their legislators now and urge them to pass a responsible, affordable budget (Contact policymakers today).

The following points should be made:

1. The overall level of spending in the Appropriations Committee budget — a 10.4% increase and approximately $850 million over the state's spending cap — is too high. The legislature can't repeat past mistakes by driving spending to unaffordable levels when the economy slows down.

2. The legislature should adopt a budget with no tax increases. Raising taxes on anyone when the state has combined excess revenues of $2 billion dollars (Rainy Day Fund plus current year surplus) sends a terrible message. If taxes can be raised when the state is awash in revenue, there can never be any certainty that they won't be raised at any time.

3. The tax increases being talked about hit small business owners and entrepreneurs — the very people who create most of the new jobs in Connecticut. We should not drive wealth creators out of state by driving up their taxes, particularly at a time when the state does not need the revenue.

Please contact lawmakers today and urge them to exhibit fiscal responsibility and pass a budget that limits spending growth.

For more information, contact CBIA’s Bonnie Stewart at 860-244-1925 or stewartb@cbia.com.

CBIA Action Center

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