CBIA, the state's largest business organization, today called ongoing efforts led by Governor Dannel Malloy to both close short-term budget gaps and begin addressing long-term fiscal problems essential to Connecticut's economic health.

"By linking fiscal stability with economic growth, Governor Malloy has set the negotiations on the right path," said Joe Brennan, CBIA's president and CEO.

“He has also taken the positive and important step of making budget talks bipartisan, seeking out the best ideas from both sides of the political aisle."

Brennan said businesses were further encouraged that the Governor and legislative Democrats and Republicans have all put forward plans to deal with budget shortfalls without additional tax increases.

"They recognize that our recurring budget deficits and recent tax increases have had a chilling effect on investment and job growth in the state," Brennan said.

"It is essential that the final package takes bold steps to restructure and reform state government in a way that will allow for the efficient and cost-effective delivery of state services without driving wealth and investment out of the state.

"We recognize that this is an arduous task, but we can no longer avoid the hard choices needed to spur economic growth in the state.

“Fiscal stability and predictability are inextricably linked with the business confidence necessary for investment, economic growth and job creation.

"An effective, workable state spending cap is a crucial component to achieving that goal.”

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).