Rep. Rutigliano Issues Statement on Gov’s “So-Called” Surplus

Rep Rutigliano Comments on “So Called” Surplus

TRUMBULL – Following the release of the State House Republican Leadership’s plan for using the projected half billion dollars in excess revenues, State Representative Dave Rutigliano (R-123) issued the following statement:

“I urge everyone to not be fooled by all of the talk from the Malloy administration about the state’s $500 million surplus.  Only spending $200 million of $700 million borrowed for current operating expenses does not constitute a legitimate $500 million surplus.

“What we had this year were unreliably large returns from Wall Street, unexpectedly high revenue from the tax amnesty program, excessive borrowing to cover operating costs, and all kinds of money-shuffling among accounts. In 2015 and beyond, these tricks and one-time revenue sources will not be available, and we will be back to running huge deficits year after year.

“The plan the Republican leadership has put forth for using the excess revenue to provide consumer tax relief and eliminate the coming special assessments on businesses is a great idea, but we still must address the fundamental problem we face – the structural imbalance in Connecticut’s finances. The State needs to stop using borrowed money to bribe companies into staying here and start making a real effort to create a better climate for all businesses.

“The Governor has put through a huge tax increase, borrowed hundreds of millions of dollars, and used countless gimmicks to make the State’s budget seem solvent. We need to start making policies that will promote real business expansion and sustainable job growth to expand the tax base. Until then, we will keep running deficits and kicking the can down the road.”

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 State Representative David Rutigliano represents the 123rd District, which encompasses most of Trumbull. He serves on the legislature’s Human Services, Insurance & Real Estate, and General Law Committees.