Fasano, Kelly Statement on Gov. Malloy’s Proposal to Support Local Insurance Industry

Hartford – Senate Republican President Pro Tempore Len Fasano (R-North Haven) and State Senator Kevin Kelly (R-Stratford), Co-Chair of the Insurance Committee, released the following statement regarding Governor Dannel P. Malloy’s proposal to lower the tax rate on insurance premiums.

“We thank the governor and applaud his efforts to support Connecticut’s insurance industry and help reduce the burdens on Connecticut companies. Due to the retaliatory tax structure in other states, this proposal will help Connecticut insurance companies in their business transactions throughout the country. Our state must work hard to preserve Connecticut’s historic role as the insurance capital of the world. This proposal is a smart step forward.”