Connecticut’s General Assembly could vote at any time on a $40 billion, two-year budget that increases the tax burden on state residents and businesses by at least $1.4 billion.
The budget also relies on $2 billion in state employee concessions that are still being negotiated. Will those negotiations reform the state’s compensation and benefits policies and make government more efficient? The public deserves to know before a final vote.
Taxes increase for everyone. However, small and midsize businesses—Connecticut’s job-creating engines—will get hit hardest by hikes in the personal income tax.
Gov. Dannel Malloy was right when he said we cannot solve the state's fiscal crisis without growing our economy; that we all need to sacrifice to put an end to future deficits and tax increases, and reopen our state for business.
However, we cannot grow our economy and get people back to work without reducing the size and scope of the tax increases carried in the budget and tax bills now before the General Assembly..
On the spending side, the budget bill rejects ideas put forward by Republicans and Democrats to further cut state spending, limiting the need for tax hikes.
And, if revenue projections for next year continue to improve, they also should be used to help offset the proposed tax increases.
Make a difference!
Call or email your state legislators today. Urge them to take a second look at the budget and work to reduce the increased tax burden on residents and businesses.
We need a better budget that will restore business confidence, create jobs and ensure a brighter future for everyone.
> CBIA’s “A Better Budget: There's Still Time” Advertisement (pdf)
> Better Budget Ideas