ReimagineCT: CBIA’s 2025 Policy Solutions

With six straight years of budget surpluses, Connecticut businesses are optimistic about continued economic growth given the predictability and stability created by Connecticut’s fiscal guardrails.
Reversing the previous decade’s boom and bust budget cycles that saw massive tax increases and budget shortfalls, the state’s fiscal guardrails not only provided historic payments to Connecticut’s underfunded pensions, but freed up more than $700 million in the annual operating budget.
That’s allowed historic investments in workforce development programs, additional housing units across the state, and expanded access to childcare to help Connecticut residents return to the workforce.
This positive state budget sustainability, however, will face challenges in 2025 with hundreds of millions of dollars of supplemental federal ARPA funding expiring and cost overruns squeezing much of the allowable spending growth available under the spending cap.
Coupled with the continued and concerning decline in the state’s labor force and the ever-increasing costs of energy, employee healthcare, and workplace mandates, policymakers must stay focused on policy solutions that reimagine Connecticut’s workforce, economy, and quality of life in a fiscally responsible manner.
CBIA’s Reimagine Connecticut policy solutions will drive economic growth, tackling the worker shortage by addressing the high costs of living and running a business, expanding career pathways, and fostering innovation to unlock Connecticut’s economic potential.
Supported by a bipartisan group of 73 lawmakers and a growing coalition of businesses and organizations, the ReimagineCT policy solutions are specifically designed to:
- Boost manufacturing and trades job growth
- Focus on career readiness
- Allow small businesses access to affordable, high-quality health insurance options
- Restore the pass-through entity tax credit to its original level
- Encourage research and development growth
- Streamline state and local permitting
- Increase civil justice transparency
- Identify long-term policies to lower costs and improve our energy infrastructure
- Implement first-time homebuyer tax incentives
- Reduce property taxes
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