This year, Connecticut lawmakers have the opportunity to show that they are committed to bringing jobs and prosperity back to our state. That starts with saying “no” to another tax increase, and “yes” to dismantling the barriers that hobble job and economic growth. During the 2017 legislative session, the Yankee Institute will be working with legislators, state officials and stakeholders in the following areas
As Gov. Dannel Malloy delivered his state of the state address, which highlighted Connecticut’s growing deficit problem, the Office of Fiscal Analysis released it second-quarter report on state agency overtime spending. So far, Connecticut agencies - particularly the Department of Correction - have spent 14.7 percent less on overtime payments than the second quarter of last year. The DOC is consistently the biggest driver of overtime but managed to reduce their payments by $8.2 million.
When Governor Dannel Malloy admitted that the state’s recent trend of raising taxes wasn’t working, and that economic growth was necessary, it signaled a shift in attitude toward the right direction. How to foster economic growth should consistently be a factor and goal in any public policy debate or legislative issue. The state needs revenue, but by chasing revenue through tax increases, it has actually chased people, and revenue, away.
Nice states encourage and reward risk takers, both with policy and general attentiveness to their job creators. Unpredictability, projections to increase taxes, and constant regulatory creep are factors that reduce business confidence and, ultimately, reinvestment in a state. Naughty states disregard the concerns of employers.
This time of year, children are told that Santa Claus is making a list and checking it twice to find out who has been naughty or nice. However, Santa isn’t the only one who makes a list every year. Leading experts and organizations across the country also rank states by their public policy. In this ongoing series, we will see which “naughty” lists Connecticut landed on and make small suggestions to help the state be a little “nicer.” Check back every day from now until Christmas for a new entry!
The Connecticut Spending Cap Commission concluded its last meeting on Monday unable to reach agreement on a definition of “general budget expenditures,” which would be subject to Connecticut’s constitutional spending cap. The commission voted 11-12 against a proposal by William Cibes, which recommended gradually phasing in increases to the cost of the unfunded liabilities the following year. The year long delay would continue until 2022, at which point all the unfunded liabilities would be subject to the cap.