SMALL BUSINESS LOOKS TO STATE OF THE STATE TO LAY POSITIVE 2017 FOUNDATION
“Unfortunately, we are beginning yet another year facing a steep set of obstacles for the small business community in Connecticut. The hope for our members is that thanks to the shift in the balance of power in both houses, the Governor, and legislators will make a cohesive effort to tackle some of the serious long-term problems that impact us all,” according to NFIB Connecticut state director, Andrew Markowski. “At a time when lawmakers have a difficult time even agreeing on the scope of the deficit, surely they now understand that kicking the can even further down the road will further destroy our state’s economy.”
Several reports regarding the state budget deficit have been released recently, often conflicting with one another. One thing they all seem to agree on though is that the state of Connecticut is in debt to the tune of well over 1 billion dollars. Fixed costs, most notably the burden of pension payments make up a majority of the debt.
“If lawmakers have a hard time agreeing on what steps to take to remedy our current fiscal situation, the least they can do is agree not to exacerbate the problem further by imposing new mandates of any kind. While some may be calling for imposing a state-run paid leave program or drastically increasing the minimum wage, they are failing to see the long-term impacts of such measures,” continued Markowski. “Small business owners need certainty and predictability to drive our economy forward. If lawmakers can figure out a way to rectify the budget situation without major tax increases and start to reform the pension system, 2017 could turn into a historic year for lawmakers and their constituents.”
