Sen. Formica and Senate Republicans Unveil Updated State Budget Proposal

May 18, 2017

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Hartford – On May 16, State Senator Paul Formica (R-East Lyme) and fellow Senate Republicans released a revised line-by-line state budget proposal that does not rely on new taxes. The revised two-year budget addresses the dramatic revenue drop reported at the end of April which leaves our state with a budget shortfall of nearly $5 billion.

“I’m proud to offer a revised budget that addresses the significant financial shortfalls our state is facing without relying on new taxes,” said Sen. Formica, who serves as co-chair of the General Assembly’s Appropriations Committee. “Our revised budget plan makes tough choices. But it also successfully protects and enhances funding for education to towns and cities with a new education funding formula, protects municipalities and property taxpayers from being hit with more financial burdens, and prioritizes core services such as mental health care, substance abuse treatment and transportation funding. This budget embodies a new vision for our state to first address today’s financial problems and second to simultaneously implement structural changes to attain long-term savings and encourage future economic growth.”

The proposal offered by Senate Republicans does the following:

  • Closes the state budget deficit without tax increases
  • Increases education funding by $170 million in the first two years and includes a new Education Cost Sharing formula
  • Reformulates municipal aid and holds towns harmless in the first year to cuts to statutory grants
  • Streamlines government
  • Provides for structural changes
  • Maintains the tax exempt status for hospitals to protect them from a new local hospital tax proposed by Democrats
  • Preserves core government services by restoring funding for social services such as Meals on Wheels, mental health care and substance abuse treatment
  • Prioritizes transportation needs and stabilizes funding without tolls or new taxes
  • Lowers taxes for retirees and helps seniors age in place
  • Enhances funding for state parks and tourism

A full summary of the updated “Confident Connecticut” budget is available here.

Line-by-line details available at www.ctsenaterepublicans.com.