Posted on January 20, 2021
On Friday, House Republican Leader Vincent Candelora commented on the latest Office of Policy Managements report on consensus revenue estimates. Here is Friday’s press release along with my thoughts on this report.
To view the January 15, 2021 Consensus Revenue Report click here.
STATEMENT FROM HOUSE REPUBLICAN LEADER VINCENT CANDELORA ON CONSENSUS REVENUE ESTIMATES
“While it’s great to see an improvement in revenue figures, it’s not news that should cause any of us to relax. The reality is that we have a tremendous amount of work to do in order to turn around our economy that’s been propped up by federal dollars, particularly when it comes to reviving industries hit hardest during the pandemic. We can take a step toward achieving that by doing everything we can to continue to stabilize our budget situation while giving employers and workers the confidence that state government has a good handle on managing the most critical issues associated with the response to this virus, such as the vaccine rollout and ensuring all Connecticut children have their educational needs met.”
STATEMENT FROM STATE REPRESENTATIVE DAVID T. WILSON ON CONSENSUS REVENUE ESTIMATES
“I agree with House Minority Leader Vincent Candelora’s comments regarding the updated consensus revenues. The short term view gives a false hope while we still have not seen or realized the longer term effects of Covid-19 on the Connecticut economy. We have had businesses struggling and our economy still has not recovered from the Great Recession in 2008.
Keeping these factors in mind, jobs which generate tax revenue have to be returned before we recover. This goes for small businesses as well, the permanent closures of them across Connecticut must be taken into account also.
For us to see a true, long-term improvement we need to reduce our debt, establish a climate that helps our small businesses recover, and keep people from moving out of Connecticut.”