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Republicans on Finance Committee Propose a No Tax Increase Budget Amendment Instead of the $1.9 billion Tax Increase Proposed by the Governor

April 21, 2011

“We can’t tax ourselves to prosperity.”

Hartford, CT – Senator Toni Boucher (R-16) gave impassioned plea on Thursday trying to offer changes to the Democratic written tax package that increases the state’s income, sales tax, inheritance, corporation, gasoline, and real-estate.

Republicans offered an amendment to strike and all and replace, which would get rid of the proposed tax increase package and replace it with the Republican no-tax-increase budget unveiled earlier in the week. The state faces a $6.1 billion deficit over the next two years.

Senator Boucher joined fellow Republicans in pointing out the proposed tax increases do not allow Connecticut to be open for business. They said that the increases in corporate taxes by an additional $81 million over two years will force businesses to further lay more people off exacerbating the historically high 9.1% unemployment rate.

Senator Toni Boucher said, “Connecticut residents are already paying high taxes before the income, sales tax, inheritance, corporation, gasoline, and real-estate taxes go up.” She added, “We can’t tax ourselves to prosperity.”

Senator Boucher reminded members of the Finance Revenue and Bonding Committee that neighboring states are decreasing their state income taxes including Rhode Island who is currently at 5.9 % and in New York State who will be lowering its tax in January 2012.

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