Alloy Engineering of Bridgeport, CT Hosts Legislative Roundtableto Discuss State Budget, Decry Proposed Tax Increase
State Senator John McKinney (R-Farifield) poses a question to representatives of Alloy Engineering
Bridgeport, CT –Senate Republican Leader John McKinney (R-28) and House Republican Leader Lawrence F. Cafero Jr. (R-142) today met with executives and employees at Alloy Engineering Company of Bridgeport, CT to discuss the state budget and highlight the harmful impact the Democrats’ proposed $1.8 billion tax increase would have on Connecticut businesses. Alloy President Kris Lorch thanked the Republican leaders for their efforts to fight tax increases. She said her employees are making sacrifices every day and state government must do the same.
"Our production has slowed and we're sitting on raw material inventory. We aren't doing nearly as much business as we used to thanks to this recession and unfortunately as a result employees here at Alloy have had to make up the difference - they have already had their hours reduced by 20%,” said Lorch. “How will they survive if I have to cut back on hours even more or shut my doors because we're being hit by these additional taxes? So instead of hitting small businesses and individuals that are already hurting, why can't we focus on bringing more businesses into the state to share the tax burden? I can bet that if these additional corporate and income taxes are approved no small business will want to call Connecticut home when there are 49 other states ready and willing to take them."
Alloy Engineering Company, Inc. has been manufacturing thermowells since 1958 and has a strong national presence in the industry, but Lorch said it is getting harder and harder to endure Connecticut’s deteriorating business climate. Sen. McKinney agreed. “Manufacturing facilities, like Alloy’s, are not always dependent on geographic location and can be easily moved out of state or overseas. If Democrats move forward with their $1.8 billion tax hike, businesses like Avant will simply pick up shop and relocate elsewhere, and they will take their jobs with them. These are the real-world implications of the irresponsible tax and spend policies being put forth by majority Democrats,” he said.
As evidence of Connecticut’s deteriorating business climate, Sen. McKinney noted that Connecticut has lost 60,000 jobs since the current recession began and he pointed to a report in Expansion Management Magazine, a national business publication, which dubbed Connecticut the “most business un-friendly” state in the nation. The Republican leaders have been fighting proposed tax hikes for months, arguing that the best budget for the state of Connecticut is one that reduces spending, eliminates government waste and does not raise taxes.
Rep. Cafero said, “Companies large and small are operating on razor thin margins in this recession. Any more costly regulations, red tape, mandates or new taxes could mean the difference between profit and loss, more layoffs or ultimately closing their doors. Our competition for jobs is not necessarily overseas but down south and in other states,’’ he said.
