CBIA President & CEO Joe Brennan released the following statement today on the state budget negotiations:
"Connecticut state government has before it an enormous challenge but also a tremendous opportunity. It can close the projected budget gap for the next two years and put Connecticut on a new, more sustainable fiscal path.
"The key is a vibrant, growing economy. Policymakers are aware of recent corporate headquarters relocations and slower-than-average economic and job growth.
"In order to change course, who better to listen to than the men and women who are creating jobs and paying good wages and benefits in Connecticut?
"As we talk to our members, we hear consistent themes. They want predictability and confidence. They want a state that's affordable so they can attract and retain top talent.
"They want a thoughtful state budget that's not put together by taking the path of least resistance through a series of patchwork solutions, but a budget that has long-term structural reforms and addresses the increasing costs of state government.
Businesses want a budget that's not put together through patchwork solutions, but one with long-term structural reforms.
"It can start with putting a truly workable mechanism in place that controls government spending. We need a strong spending cap that ensures funding for government priorities but doesn't allow costs to be shuffled in and out.
"The budget must also include other long-term structural reforms, like a stronger cap on borrowing, required votes on union contracts, and further changes to pension and other benefit costs at the end of the current union contract.
"We applaud House and Senate Republicans for putting together a fully vetted budget that contains these items that any final budget must include.
"We also applaud those on both sides of the aisle who have resisted the call for higher taxes.
"Now is the time for working together. We need a bipartisan budget that incorporates the spending reforms proposed by the Republican caucuses and avoids the harmful tax increases that will only make it harder to keep good jobs in Connecticut.
"By doing that, policymakers will show businesses and residents that we're changing course. The resulting confidence will help bring about the brighter economic future we all deserve."
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 Meaghan MacDonald (860.244.1957).