Rep. Candelora Responds to New Revenue Projections

Rep. Candelora joined fellow Republicans at a press conference today announcing their “cautious optimism” after learning projected tax return revenue estimates came in higher than anticipated. They warned that this influx should not be seen as an excuse to spend more and create new government programs, but instead, they proposed the monies should be used to pay down the massive state debt. Last year the state borrowed $1 billion just to cover basic operating expenses. Connecticut faces a nearly $4 billion deficit for fiscal year 2012. Revenues were up higher than expected due to the majority party's passage of the largest tax hike in state history last September and monies created from bonding. Republicans have been proposing no-tax increase budgets for more than 3 years. On April 15th, the Republican caucus unveiled their plan to close the growing $700 million deficit for the 2011 state budget without raising taxes. That plan balanced the budget by rolling back spending to 2009 levels, asking for concessions and early retirement from state workers, privatizing some state services and combining state agencies. Opponets to these plans wish away the hard decisions and would rather just keep raising taxes for revenue. Last night, Democrats passed an $18 million tax on hotels across the state. They've also passed new taxes on corporate, utility and estate taxes in committee votes in early April.