Sen. Hwang’s Latest CT State Budget Update: “It’s fiscal chaos.”

April 30, 2016

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Senator Hwang – Latest Connecticut State Budget Update April 30th

Sen. Tony Hwang provided the following Connecticut state budget update:

“The situation is dire. I wish I had a more positive report for the taxpayers of Easton, Fairfield, Newtown, Weston, and Westport.

“New consensus revenue figures from our state’s non-partisan Office of Fiscal Analysis show a budget deficit of $256 million in 2016 and $960 million in fiscal year 2017.

“These figures include an increase in Miscellaneous Revenue by approximately $40 million, which has to be presumed to be a large legal settlement the state has yet to actually gather. Not including this questionable revenue source, the 2017 deficit could be as large as $1 billion.

“These devastating financials reflect a shortfall from the deficit mitigation efforts just passed last month.

“Furthermore, the projected 2018/2019 deficit is now a whopping $5.4 billion rather than the previously projected $4.4 billion.

“Meanwhile, Majority Democrats in the Connecticut House and Senate appear to be in a stalemate with the governor despite the looming session-ending deadline of May 4th.

“So where does this leave us?

“It’s fiscal chaos.

“Four days remain in the legislative session. There is no budget agreement. There is no certainty.

“Connecticut’s finances are hemorrhaging red ink. Our problems grow larger by the day, yet they are not being addressed.

“As I noted earlier this week, all of this does not bode well for town budgets and for local property taxpayers.

“As I have warned, towns like ours could end up footing the state’s bills.

“I will continue to press for structural budget changes that will create a sustainable budgetary environment into the future. I will advocate for a responsible budget that restores the governor’s cuts to critical social services, education and to hospitals while not raising taxes or fees.

“I genuinely believe that Connecticut has a spending problem, not a revenue shortage. Our detailed alternative budget plan – “A Pathway to Sustainability” – can be viewed at www.senatorhwang.com .

“How can you help?

“Beginning Monday morning, take a minute and please call House Democrats at 860 240-8585 and Senate Democrats at 860 240-8600.

“What should you say?

“Respectfully urge them to display the unselfish leadership the citizens deserve and to create a budget and legislative environment that is Predictable, Sustainable and Transparent.”