Thank you for your leadership, and for your commitment to our wonderful state.
Although national and state elections may dominate many of the headlines in 2024, as you know, there will also be many important policy debates during this year’s “short session” in Connecticut. Yankee Institute looks forward to being an active part of those conversations, as we work to improve the lives of everyone who calls our state home.
As we entered 2023, most economists were forecasting a recession, and with rising interest rates to combat significant inflationary pressures, those projections seemed inevitable. Thankfully, the economy didn’t enter a steep decline, though we can all still sense the headwinds and costs when we go to the store or spend a night out with friends.
In Connecticut, private sector employment in 2023 finally surpassed the level we reached in 2008 prior to the Great Recession. It may have taken a “lost decade” to get there, but Yankee Institute is committed to working with you to accelerate that growth through sound, common-sense solutions.
From Yankee Institute’s perspective, the recent decision to hit the brakes on an electric vehicle mandate from California was a welcome change of pace in Hartford. Most likely, you might have seen a somewhat higher paycheck this first month of 2024 thanks to another first in Connecticut: a reduction in the state income tax. We hope policymakers will recognize the positive effect of paring back regulatory and tax burdens and will do much more in the years ahead.
Yankee Institute is also focused on improving educational outcomes for low-income families. As documented in a report done by researchers at the University of New Haven on behalf of the Connecticut Center for Educational Excellence (CTCEE), our state suffers from one of the largest “education gaps” in the country. One way we can help mitigate this crisis is to pass tax-credit scholarships that will incentivize charitable giving and ensure low-income families have more of the educational opportunity and access that their more affluent counterparts enjoy.
There is a lot more to address in Hartford and across our communities: lowering energy costs, improving health outcomes, and increasing economic output, among other important issues. On all topics, Yankee Institute looks forward to working with you, and to being an active presence representing all our hard-working neighbors who want a prosperous Connecticut.
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