Posted on May 15, 2018 by admin
HARTFORD – State Representative Bill Simanski voted in favor of a compromise state budget agreement on the last day of the legislative session, Wednesday, May 9th.
Without adding new taxes, the agreement restores education cost sharing and town aid. It prohibits hold backs to municipal funding by the Governor, restores the Medicare Savings Program and provides additional funding into Retired Teachers’ Healthcare. The budget also respects the revenue volatility cap instituted in 2017 and will deposit the influx of unexpected one-time revenue collected this year into the rainy day fund.
“I am glad that we were able to reach a compromise before the end of session,” said Rep. Simanski. “This budget agreement for 2019 keeps our commitment not to add new taxes. I was also proud to support efforts to restore $2 million for the Department of Veterans Affairs to maintain critical care services in Rocky Hill and to restore funds for veteran’s burial honor guards. ”
The agreement also begins the implementation of some of the recommendations from the Commission on Fiscal Stability and Economic Growth. As recommended by the commission, it requires a study of pro-growth tax rebalancing to produce a report for the legislature by December 2019. The deal also requires the hiring of outside financial consultants to identify $500 million in savings from general fund expenditures to be acted on by January 2019. Also, it requires a study of reforms to the Teacher Retirement System to pay down unfunded liability.