By Senator
Toni Boucher
Connecticut residents understand that tax policy determines
our success as a state where businesses are willing
to invest and families can thrive. The biggest lesson
to be learned from this recession is the need to reinvent
state government.
Governor M. Jodi Rell proposed a state budget that
would close our multi-billion dollar deficit and provide
government services without raising taxes or cutting
funding for municipalities or local education.
Democratic leadership countered by proposing the largest
tax increase in state history - $3.3 billion. Rather
than cut spending, Democrats proposed phasing out the
property tax credit, eliminating many sales tax exemptions,
and increasing the personal income tax for nearly everyone.
Democrats want to raise the income tax on Connecticut’s
highest earners to 7.95 percent, and impose a 30 percent
surcharge on every profitable Connecticut-based company.
Connecticut citizens already bear
among the nation’s highest tax burdens. Many have
told me that higher taxes will drive them out of state.
Connecticut’s unemployment rate is predicted to
surpass 8%. Over 50,000 lost their jobs in the past
six months, including 14,300 who became unemployed in
January. State tax revenues are down. Clearly, it makes
no sense to pass a budget that would worsen our already
precarious fiscal situation by increasing taxes.
As a member of the Finance, Revenue & Bonding
Committee, I will work with Governor Rell and Democratic
legislators to resolve the existing deficit and pass
a responsible budget that helps, not hurts, our state.
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