CT State Reps Propose No Tax Increase Budget

From CT State House Republicans: With Connecticut on the brink of fiscal disaster and facing a $3 billion budget deficit which seems to grow by the day due to a 20.4% drop in state revenue in the last year, Milford State Reps. Pam Staneski (R-119) and Charles Ferraro (R-117) along with their House and Senate Republican colleagues put forward a balanced, no tax increase budget which sets the state on a new course.

With dwindling state revenues the Republican Budget Plan is right now the only balanced budget plan before the General Assembly.

Unlike the governor’s budget which raised taxes by $200 million and the legislative democrat plan which would raise taxes by over $400 million, the Republican plan DOES NOT raise taxes.

The Republican budget spends $500 million LESS than the Democrats’ budget and $313 million less than the governor’s budget

“Unfortunately, there are no good options given our fiscal situation. This budget finally establishes a real true spending cap with tight restrictions, said Rep. Pam Staneski. “This budget represents a realistic and fiscally sound plan for the people of my district. We restore much needed state education dollars to Milford and Orange and make a promise to our local hospitals that will not punish them with more taxes.”

“Once again, Republicans are releasing a no-tax-increase budget that makes real long-term structural changes to the way our state government operates,” said Rep. Ferraro. “The years of runaway spending by legislative Democrats has made our state unsustainable and unpredictable causing residents and businesses to lose confidence in our state government. Turning the state around will not happen overnight, but showing Connecticut residents and businesses that our state government can live within its means and provide core functions of government without wasteful spending and unnecessary taxes is a step in the right direction.”

Other Budget Highlights include:

• Consolidations of state agencies
• Eliminates funding for UConn branch of FastTrack bus service
• Eliminates taxpayer funded campaigns
• Mandatory Approval of labor contracts by the General Assembly
• Create MERS Tier 3 for new employees
• Requires $700 million in union concessions
• Cancels bonding $250 million for the XL Center
• Enact a constitutional Transportation Lockbox

“We were elected to the General Assembly to lead and not hide from tough budget decisions. This budget listens to the taxpayers who have continually told me they have had enough by having government go back to its core mission and not drip into every aspect of our lives,” Rep. Staneski.

According to the latest report by the Office of Fiscal Analysis, the state budget is projected to run a $1.7 billion in deficit in 2017-18, and $1.9 billion in the red in 2018-19, according to Governor Malloy, for a combined biennial shortfall of $3.6 billion.

If the April income tax estimates hold, the deficit forecast would rise to $2 billion in 2017-18 and $2.2 billion in 2018-19 which would represent a potential gap of 10 percent and 11 percent, respectively.

Image Courtesy of CT House Reps