The budget plan released by Democrat legislative leaders represents progress toward resolving the state's fiscal issues, but lacks sufficient long term structural reforms, the state’s leading business organization said today.
“We see it as a positive that the Democrat plan does not include tax hikes, but more work is needed to move the state in the right direction,” said CBIA president and CEO Joe Brennan.
"While we're encouraged that proposals put forward by the Governor, Democrats, and Republicans all avoid tax hikes, the final budget plan should also avoid one-time savings and one-shot revenues.
“All year, we have consistently called for long-term spending reforms--reforms that will stabilize the state's finances and generate the confidence needed to attract and retain businesses and create jobs.
"It's now time to take the best ideas from all three proposals and pass a state budget that embraces those reforms.
“Lawmakers face a difficult challenge, but the only way to grow Connecticut's economy is by making state government more efficient, more effective, and more affordable."
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 email or call Meaghan MacDonald (860.244.1957).