Rep. Klarides-Ditria, House Republicans Unveil Revised No-Tax-Increase Budget Proposal
HARTFORD- State Representative Nicole Klarides-Ditria joined her Republican colleagues on Tuesday to issue a revised no-tax-increase budget for 2018-19 that eliminates the projected $5 billion budget deficit, increases school funding for all towns, reduces the corporate surcharge and mitigates municipal aid losses by reallocating funds.
“Raising taxes, implementing tolls, and legalizing marijuana will not solve our state’s fiscal woes,” said Rep. Klarides-Ditria. “Our budget plan will begin to create a long-term stable economic climate for residents and businesses. We need to provide residents and businesses with predictability and that starts with passing a bipartisan no-tax-increase budget by June 7th.”
In this current proposal, Republicans revert back to the former Education Cost Sharing formula, while also adding $20 million to the distribution. In addition, the proposal establishes a $90 million grant in order to ensure that no municipality loses aid compared to the current fiscal year.
Other structural changes include:
- Implements a strict Constitutional Spending Cap
- Reduces bond issuance cap from $2 billion to $1.3 billion for each fiscal year
- Ensures municipalities are held harmless
- Establishes a wage freeze for state employees, but no layoffs
Republicans now join Democrats and Gov. Malloy at the negotiating table to come up with a final budget plan that can pass both the House and Senate.
For more information on the House Republican budget proposal, please visit www.cthousegop.com/budget.