The state’s largest business organization today welcomed Gov. Ned Lamont’s pledge to balance the two-year budget without broad-based tax increases.
“We’re glad to see many of the administration’s priorities aligning with CBIA’s Rebuilding Connecticut policy recommendations, including expanding workforce development opportunities to get people back to work, investing in our hard-hit urban centers, and supporting struggling small businesses,” CBIA president and CEO Chris DiPentima said.
“Recovering from the coronavirus pandemic is the first step to growing Connecticut’s economy. It requires collaboration between Democrats, Republicans, the private and public sectors—we’re all in this recovery together.
“We appreciate that the Governor’s budget proposal ignored calls from progressive lawmakers for more than $4 billion in tax hikes on residents and businesses.
“As the Governor said, ‘We don’t need more taxes, we need more taxpayers.’”
DiPentima said the organization was analyzing the Governor’s transportation funding proposals, which include joining the multi-state Transportation Climate Initiative and implementing a mileage fee on tractor trailers.
“Transportation infrastructure investments are absolutely critical to moving our state forward, but a successful plan cannot be developed without bipartisan support,” he said.
Of the three options Lamont listed for balancing the budget, DiPentima said leveraging economic growth was the business community’s preferred path.
“Closing budget deficits through economic growth—not relying on unknown federal funding or draining a historically high rainy day fund—is sustainable, scalable, and will prevent the continuation of plugging unsustainable budgetary holes in the future," he said.
“To that end, it is critical that lawmakers support the private sector during these challenging times by reducing mandates and refraining from making it even more difficult to create jobs and drive economic growth.”
DiPentima said the Governor’s emphasis on streamlining state government also reflected one of CBIA’s Rebuilding Connecticut policy focus areas.
“There’s a huge opportunity ahead of us to modernize and reimagine how we deliver state services to all residents and increase the return on investment for their tax dollars,” he said.
He also applauded Lamont’s recognition of the role the state’s insurance sector is playing in addressing healthcare costs, a major concern for residents and small businesses.
“We look forward to working with Gov. Lamont and state lawmakers from both parties to address the most critical issue facing our state: rebuilding Connecticut and coming back stronger and better than before,” DiPentima said.
CBIA is Connecticut’s largest business organization, with thousands of member companies, small and large, representing a diverse range of industries from every part of the state. For more information, please contact Joe Budd (860.244.1951).