Yaccarino- Why I voted NO

Earlier this week Democrats in the legislature passed a two-year budget that spends so much money that it required an extraordinary exemption of $6 billion from the constitutional spending cap just to become law. The 10% increase in spending brings the total to more than $44 billion over two years.

This is troubling because the Constitutional spending cap was put in place to put limits on government spending after the income tax become law. Law requires a two-thirds vote in the legislature to amend the cap but the Democrats didn’t have enough votes so they simply changed the definition of spending. I fear the consequences of this action could be felt for years to come.

To help pay for this record spending, there is an over reliance on borrowing and one-time revenues. We continue to borrow $750 million for day-to-day government expenses and delay $400 million in debt payments that will result in tens of millions of dollars in future interest charges.

Despite the Democrats’ claims that there are no new taxes in this budget, millions more in revenue is raised from taxes that people and businesses weren’t planning on paying. There is a great deal of revenue from a 16% increase in the gas tax scheduled to take effect on July 1^st. The electric generation tax and the 20% corporation surcharge tax were both scheduled to expire but, instead, will be extended to help feed record spending levels.

We cannot tax and borrow ourselves out of debt. Attempting to do so will continue to make our problems more difficult to fix.

There is also the addition of more gambling in Connecticut in the form of Keno. Just a few years ago Democrats chided Governor Rell for suggesting we bring Keno to Connecticut but the need to find every bit of revenue has quickly changed their tune.

There is an over reliance on one-shot revenues including a $200 million budget surplus from this year and a sweep of $100 million that is supposed to be used for transportation spending that will now go to the General Fund. These funds will not be available to fill the coffers in future fiscal years but the spending will be, creating problems down the road.

The priorities in this budget are misplaced. Yes, there is important spending for education and aid to municipalities has been preserved; but, there are so many areas of state government where spending should be reduced, or efficiencies found. The strategy of borrowing this money for current spending will only deepen future budget deficits when it comes time to pay this money back. We must have the courage to make difficult changes that will nonetheless have long-term benefits.

Compared to other states Connecticut’s economy has been slow to bounce back from the recession. Our unemployment rate remains well above the national average and companies that provide the jobs needed to bounce back simply don’t feel welcome here. This budget will only deepen those problems that have been holding us back.

I fear this was another wasted opportunity to enact much needed reform. We need to be honest and forthright with our fellow citizens. This budget does not do that.

Dave Yaccarino represents North Haven in the General Assembly’s 87^th legislative district.