HARTFORD (April 27, 2017): In response to the budget proposal released by the Republicans this afternoon on the heels of learning that Connecticut is facing a staggering 1.1 billion dollar shortfall through 2019, the following statement may be attributed to Andrew Markowski, National Federation of Independent Business (NFIB) Connecticut State Director:
It is imperative that the state income tax collections falling far short of their projections not get lost in the chaos of budget season. Connecticut is now facing a multibillion-dollar deficit that will cripple our already stagnant economy. As all eyes turn towards the finance committee, the importance of avoiding a solution that includes increasing tax revenue or government spending cannot be overstated.
The proposal released by the Republicans today consists of many ideas that are embraced by the small business community. It contains no income or sales tax increases and attempts to hold municipalities fiscally harmless which will protect property owners from insurmountable property tax increases. Their budget does not increase spending and perhaps most importantly, seeks long-term structural changes to the state so that future economic disasters are avoided.
