Martin, Petit Support Balanced Budget Proposal That Does Not Raise Taxes

HARTFORD- State Senator Henri Martin (R-31) and State Representative William A. Petit, Jr. (R-22) stood arm-in-arm with their House and Senate Republican colleagues and put forward a balanced, no tax increase budget which sets the Connecticut on a new fiscal course.

The proposed budget comes as Connecticut stands on the brink of fiscal disaster and faces a $3 billion budget deficit that seems to grow by the day.  The budget provides a blueprint to move the state away from years of tax increases and unsustainable budget that have cost Connecticut businesses and residents.
“Given the dire fiscal situation that our state is in, I am proud to stand behind this budget, which closes the state budget deficit without raising taxes on residents and also cuts spending,” said Rep. Petit.  “This budget also restores funding for Plainville and New Britain, and rejects the governor’s proposal to pass along the $400 million in teacher’s pension costs, which ultimately would have led to increased property tax rates.”

“While other states have recovered from the 2008 recession, Connecticut’s high taxes, onerous regulations, and anti-business policies are strangling efforts to restore jobs and improve the economy,” Sen. Martin said. “This budget starts the process of reviving the state and putting it back on the path toward fiscal health by making government smaller and more cost effective.”

Unlike the governor’s budget which raised taxes by $200 million and the legislative Democrat plan which would raise taxes by over $400 million, the Republican plan DOES NOT raise taxes.

The Republican budget spends $700 million LESS than the Democrats’ budget and $313 million less than the governor’s budget.

Other Budget Highlights include:

• Restores funding for Care4Kids
• Restores funding for senior Meals-On-Wheels programs
• Consolidations of state agencies
• Eliminates funding for UConn branch of FastTrack bus service
• Eliminates taxpayer funded campaigns
• Mandatory Approval of labor contracts by the General Assembly
• Requires $700 million in union concessions
• Cancels bonding $250 million for the XL Center
• Enact a constitutional Transportation Lockbox
• Phases out the income tax on pensions and annuity income

Exempts social security from income tax for middle income seniors