Bolinsky, GOP Legislators Propose Honest, Balanced Budget for Connecticut Taxpayers

The alternative plan proposed by the Republicans, which would eliminate the accounting maneuvers used by the majority to create a surplus for the current fiscal year, respects the constitutional spending cap while restoring vital transportation funds, accelerating tax relief to state residents, and providing $26 million in additional aid to municipalities. It spends less than the majority’s proposals and, according to the nonpartisan Office of Fiscal Analysis, will reduce the $2 billion budget deficit projected for 2016-2017.

“This alternative budget plan we have presented is the ONLY plan that would reduce spending in the current year, and reduce projected deficits in the out years,” said Bolinsky, who sits on the budget-writing Appropriations Committee. “It is a return to honest budgeting, and a solid step toward returning Connecticut to a sound financial footing.”While cutting spending overall, the alternative budget plan offers increases in critical program funding, such as:

• Restoring the funding raided from the Special Transportation Fund
• Fully funding the retired teachers’ healthcare plan
• Maintaining primary care provider reimbursement rates
• Adding much needed staff to the Department of Social Services
• Increasing funding for mental health
• Increasing funding for vocational education and apprenticeship programs
• Restoring the Elderly Renters’ Rebate program
• A phased-in exemption of all pensions from the income tax, starting at 5 percent.

The plan would also eliminate Governor Malloy’s plan to issue $55 refund checks to taxpayers, widely derided as an election year ploy, and would halt the rollout of the lottery game Keno, hastily inserted into the budget last year to plug a revenue gap.

Bolinsky was particularly pleased with the additional Critical Program funding of $3.1 million in the Republican Balanced Budget Plan to fund the Governor’s Mental Health Initiative, which has been a chief priority for him since he was elected.

The alternative budget also details what the Republicans would do with the excess revenue generated by a number of one-time tax collections and borrowing last year. Their proposals include reducing long-term liabilities by making debt payments skipped over the last two years and putting $100 million into the dramatically underfunded state employee pension fund. The plan would also accelerate restoring the sales tax exemptions on non-prescription drugs and clothing and footwear under $50, and would pay off the interest portion of a loan from the federal government that has been charged to business as a special tax.

“This is honest and transparent step in the right direction,” added Bolinsky. “According to the non-partisan office of Fiscal Analysis, Connecticut is facing billion-dollar deficits in fiscal 2016 and beyond due to continued maneuvers the budget with one-time revenues and gimmicks.”