With the opening day of the 2018 legislative session behind us, and only a few short months to get a handle on a projected $244 million deficit, it is critical we work together to find sustainable solutions to this crisis.
The tax and spend policies of the past have not worked, and proposals to add revenue with even more tax increases on everything from gasoline to tires and tolls is a proven recipe for disaster.
According to the Boston Business Journal:
“Over the last quarter-century, Connecticut has endured a series of budget crises. To cover ballooning costs, the state enacted sharp tax hikes, including four income tax hikes in the last 14 years that caused the top rate to jump by 77 percent … The results have been disastrous. From 2007 to 2016, the state placed 49th among the states and D.C. in private-sector wage growth. According to the American Legislative Exchange Council, only one state economy performed worse than Connecticut’s between 2005 and 2015.”
To read the full article, please click the following link: https://www.bizjournals.com/boston/news/2018/02/06/viewpoint-connecticut-example-argues-against.html
I remain committed to supporting sustainable and reasonable policies that help our state move forward. This is a challenging time for our state but I remain hopeful that we will find solutions to these problems.