Rep. Carpino Op-Ed: The Budget As it Stands Today…

On February 6th, I sat to listen to Governor Malloy’s Budget Address, which is his plan for the next two years. I must say I left the House chamber after the speech very disappointed in the details.

To begin the conversation, let me first give you the latest figures: the state is facing a $2.5 billion budget deficit over the next two years, and the Governor proposes to increase spending by 9.7% or $1.8 billion over the current budget and bond $3.1 billion for the biennium. This does not even address the current $140 million deficit for this fiscal year which ends June 30th.

Essentially, the governor’s budget continues to spend money the state does not have though the state remains to collect less revenue the more they tax. So they didn’t cut spending, they increased it. We need to spend only what have can afford not above and beyond our limits.

Although every municipality is flat-funded by the state, one of their largest income streams which is municipal car tax is taken away and not replaced with any funding—that’s $500 million that gets taken away. The towns I represent are left wondering how that money is made up so they are made whole.

On taxes, the governor’s plan is letting a number of existing tax cuts which were sun-setting to expire. That’s a new tax on people were not planning on paying that tax, The businesses that were counting on the promised phasing out of the $116 million corporation tax now find themselves in the position of having less money to hire people or invest in infrastructure.

And how does Governor Malloy pay for the increased spending in his less than austere budget. He plans to borrow and bond an additional $3.1 billion over two years. Remember, bonding the money means we borrow the money with interest.

This budget and the last two-year budget have borrowed at an unprecedented level, mortgaging the future of the next generation of Connecticut residents, and jeopardizing the downgrading of our bond.

The most troubling aspect of the proposal is the massive borrowing to finance operating expenses such teacher salaries and other day-to-day costs that should be included in the general fund. It is my belief that we should not be bonding state money to keep the lights on and other ongoing state or local expenses.

For instances, I could very well support legislation that authorizes bonding money for school security across the state. That is not to say I am against any and all state bonding.

The state budget is now in the hands of the legislature. We will have numerous public hearings with each agency coming before the Appropriations committee to justify their respectively budgets. The Finance committee will have hearings on the tax proposals and the bonding requests.

I will be having a Budget forum on February 26th at the Portland Senior Center with State Senator Art Linares to discuss to more of the specific details of the state budget.

Please visit www.cthousegop.com for news and commentary on the latest happenings at the State Capitol. I encourage you to sign up for my e-newsletter so you can get updates and alerts emailed directly to your inbox. If you have any questions, concerns or ideas please feel free to contact me by phone (860) 240-8700 or email Christie.Carpino@housegop.ct.gov.