Enough Is Enough – Last Chance to Tell Your Lawmaker Connecticut Cannot Afford Tax Increases
by Suzanne Bates | May 29, 2015 | Tax and Budget | 0 comments
With budget talks continuing behind closed doors, news is leaking out that a deal is imminent between Gov. Malloy and the Democratic leadership in the House and Senate – and the word is that tax increases are still a big part of the budget. There is good news – it sounds like lawmakers heard our message that a 2 percent surcharge on capital gains would create a huge drain on our economy. But the bad news wins – it appears that there will still be hundreds of millions of dollars of new tax increases in the budget. And to do this, lawmakers will have to completely ignore the constitutional spending cap. How many times did Gov. Malloy promise there would be “No New Tax Increases” during his re-election campaign last year? His own budget called for “revenue enhancements” to the tune of $800 million over the two-year budget. But then the House and Senate Democrats then made Malloy look like a spendthrift by putting out a budget that increased taxes by $2.4 billion over two years. The Republicans countered with a budget that called for no new tax increases and asked state employee unions to make good on the savings they promised four years ago. All of these competing plans suggest places that the budget can be cut, and we at the Yankee Institute have suggested even more cuts, including millions in cuts in our policy brief on the budget. Enough is enough. Connecticut’s residents and businesses cannot afford another round of huge tax increases. Today is the day to call or email your lawmaker and Gov. Malloy and tell them to cut spending, and not to increase taxes.