Carpino: A “Not-So Balanced” Budget

I have been asked how the majority party can claim Connecticut will have a balanced budget over the next two years without any new taxes. Regrettably, it is not balanced by any set of definitions we would use with our own finances.

First, there were tax increases in the budget, specifically the hike in the gas tax. In addition, there are taxes which were set to expire this year but instead were extended. A broken promise to Connecticut citizens.

Second, the budget raided, or “swept” over $130 million of dedicated funds. Taxpayers paid into these funds with the expectation the money being collected would actually be used for those specified purposes. Another broken promise to Connecticut citizens.

The most egregious fund sweep is the $100 million taken from the Special Transportation Fund (STF) and put into the General Budget fund. The STF is supposed to be used to repair our roads and bridges. Money is normally collected from the state’s gas tax and the gross receipts tax on petroleum and put into the STF. Instead, the fund was raided, leaving Connecticut with $93 million below the level necessary just to maintain current services. All of can attest that our roads can’t afford to lose these funds.

The Probate Court Fund, the Tobacco and Health Trust Fund, Stem Cell Research Fund, the Clean Energy Finance and Investment Authority, the Connecticut Resources Recovery Authority –all fell victim to these raids. Important funds were withdrawn from their intended purpose, and instead were used to plug the budget deficit.

Taxpayers should not be tricked into thinking their money is going one place when in fact it is going somewhere else, especially if it means the government cannot maintain the fundamentals-such as roads and bridges.