HARTFORD (April 27, 2017): In response to the Finance Committee’s action this evening on voting out a budget, the following statement may be attributed to Andrew Markowski, National Federation of Independent Business (NFIB) Connecticut State Director:
We applaud the entire Finance Committee for their bipartisan agreement on this budget proposal. Not only have they come to a consensus that does not include sales and income tax increases, but they have also included some macro level tax reductions as well. Eliminating the gift tax, amending the estate tax to conform with the federal level as well reducing the insurance premium tax will help small business owners begin to chip away at their overwhelming tax burden.
Coupled with the Republican plan that was released earlier today, lawmakers appear to have a solid outline from which to negotiate the final budget. Given the overall revenue situation and the alarming decline in income tax receipts, the hope of the small business community is that moving forward lawmakers will focus on significantly reducing spending across the board as well as addressing many of Connecticut’s fixed costs that overwhelm our deficit.
