Sen. Frantz Calls Democrat Budget Out of Touch

June 26, 2009

Says tax increases would cripple Connecticut’s economy for years to come

Hartford, CT – State Senator L. Scott Frantz (R-Greenwich) today voted against a Democratic led budget proposal that would increase taxes in Connecticut by approximately $2.25 billion. The measure, which passed the Senate by a slim 19-16 margin, includes a 30% estate tax surcharge as well as a 25% corporate tax surcharge. The budget also calls for an additional $1.5 billion increase to the state’s income tax, including a 50% increase to the state’s top earners. Sen. Frantz said he is extremely disappointed and this massive tax increase would put Connecticut in an even worse financial position.

“Much to my disappointment, but certainly not my surprise did the majority party bring this budget up for a vote today,” said Sen. Frantz. “Knowing full well that it was going to be vetoed by Gov. Rell, the Democrats insisted on bringing this plan forward. While some may say that today’s session was an exercise in futility, I think it proves that the majority party is incapable of putting forth a budget that is fiscally responsible.”

Sen. Frantz said that with the state facing a projected two-year budget deficit of approximately $8.9 billion, the last thing the state should be doing is raising taxes. He said the state has an opportunity to reform and reduce the size of state government, but this budget takes the opposite approach.

“There are no smart cuts in this budget and it relies mainly on new taxes,” said Sen. Frantz. “A 30% estate tax surcharge and a 25% business tax surcharge will do nothing to increase revenue, if anything it will drive people away and make Connecticut a less attractive place to live and do business.”

“It is unfortunate that the majority party is simply incapable of making meaningful reductions to government inefficiencies, regardless of the urgent need to do so. Today we certainly learned that they have no interest in passing an intelligent budget that takes into account the real problems facing our state,” said Sen. Frantz. “With the governor’s veto we will have the opportunity to once again address these critical and timely issues before the end of this fiscal year. It is my hope that an agreement can be made that recognizes the need to reduce government spending while protecting our already over-burdened taxpayers.”