Rep. Bolinsky: Tax Freedom Day 2013

The legislature has begun deliberating Governor Malloy’s two-year, $43.8 billion budget proposal, which calls for a spending increase of over 9% and $3.1 billion in new borrowing, in an attempt to address over $2 billion in projected deficits.

Given the gloomy fiscal outlook, and with some Democratic legislators calling for tolls and other new taxes, it is even more troubling that Connecticut has attained a very dubious distinction.

According to the Tax Foundation, a non-partisan tax research group, Connecticut continues to have the latest “Tax Freedom Day” of any state in the nation. Tax Freedom Day is the day each year when the average citizen has made enough money to pay their combined local, state and federal tax bills.

With one of the highest tax burdens per capita of any state in the nation it’s no wonder our Tax Freedom Day comes later than any other state – May 13 – which marks an eight day extension from last year:

http://taxfoundation.org/article/tax-freedom-day-2013-april-18-five-days-later-last-year

To put it in perspective, we will spend more on taxes in 2013 than we will on food, clothing and housing combined.

This should tell us something about the way our state government is operating. It is time for some fiscal common sense!

Connecticut families balance their household budgets on the basic principles of not spending more than they bring home and not borrowing more than they can afford to pay back. Shouldn’t the State of Connecticut do the same?

We can’t afford to continue living like this. As a member of the Appropriations Committee, I am closely monitoring the legislature’s budget negotiations and continuing to bring common sense principles to the process.