Former Governor Jodi Rell wrote, “Connecticut has been under one-party rule — not the balanced two-party system our founders intended. This administration, along with a Democratically-controlled legislature, enacted the largest retroactive tax increases in Connecticut history — tax increases that have put a brake on the economy. The overall impact of these policies is that jobs and people are leaving the state. Many people can’t find work and many who have jobs can no longer afford to live in Connecticut.”
Barron’s confirmed that, “Connecticut is the worst managed state in the country.” It has the highest combined taxes, highest debt and is business unfriendly. Due to these negative financial policies, economists had predicted continuing deficits for CT and a longer recovery than other states. This is exactly what has happened.
We need tax policies that will reverse this trend and revitalize Connecticut. Tax and spending decreases are necessary to encourage job growth and investment.
A profitable business sector can provide jobs and increase state revenues. Yet, Connecticut has not added one net new private sector job despite tax incentives and subsidized corporate moves. Employers will only expand their workforces if there is demand for their goods and services. When government takes consumers disposable income through increase taxes and fees they have less purchasing power. The state can help employers create jobs by: reducing taxes; business and payroll costs; red tape; state spending; the worst in the nation’s unfunded liabilities; and paying down debt.
We need a streamlined and shortened permitting process and a clearly defined compliance process. Reduced regulatory burdens and consistent rules that are not continually changed by the legislature will help to rehabilitate the state’s business reputation. We must return balance to our state government by electing those free from special interests, with the courage to make difficult but responsible budgeting and spending decisions without raising taxes on the public.
The author is a state senator representing Wilton, seeking re-election this November 8. Candidates for office are invited to submit one op-ed before Election Day.