The state's largest business organization today called on the General Assembly to approve the fiscal year 2017 budget agreement reached by Governor Dannel Malloy and Democratic legislative leaders.
"Connecticut can't afford more tax hikes," CBIA president and CEO Joe Brennan said. "We can't afford to lose more jobs, businesses, and families."
With multi-billion dollar shortfalls forecast for 2018 and 2019, Brennan said fiscal discipline was needed now to break "the crippling cycle of budget deficits followed by tax hikes followed by more deficits."
"By passing the no tax hike budget, lawmakers will begin the process of getting Connecticut's fiscal house in order and addressing the greater challenges ahead," he said.
“While many of the spending cuts in the budget agreement are difficult, we have no alternative.
“Raising taxes yet again on individuals and businesses will only make the situation worse and lead to further declining revenues."
Brennan added that the state must solve its budget problems without raising taxes to attract the investments needed for creating jobs in Connecticut.
“The time to do that is now," he 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 email or call Meaghan MacDonald (860.244.1957).