The budget proposal approved by the Appropriations Committee today in a party-line vote-- with all Democrats approving and all Republicans opposing--obliterates the state's constitutional spending cap, the last best hope the taxpaying public has to help hold back ever-increasing taxes.
"We have said from the beginning of the session that the only way to properly deal with the state's fiscal problems is to encourage greater economic growth," said Joe Brennan, president and CEO of the Connecticut Business & Industry Association.
"This proposal adds over $1.5 billion in new spending over two years. It is unsustainable and sets up taxpayers for enormous tax increases.
"It will make it infinitely more difficult to attract the investment we need to grow jobs.
"In addition, the proposal violates the spirit of the constitutional spending cap and is an affront to the more than 80% of Connecticut voters who supported a measure of control over spending and the taxes needed to pay for it."
CBIA is Connecticut's largest business organization, with 10,000 member companies. For more information, please contact Meaghan MacDonald (860.244.1957; email@example.com) or visit the CBIA Newsroom.