Fazio: CT GDP numbers are “awful”; “Our people deserve better.”

Sen. Ryan Fazio (R-36th District) today issued the following statement regarding the U.S. Bureau of Economic Analysis which shows that real gross domestic product decreased 4.7% in Connecticut during the second quarter of 2022, one of the steepest declines in the nation and marking the second straight quarterly decline in 2022.

“Our state and people deserve far better. These awful numbers are a blaring wake-up call to officials of all political parties. Our state is rapidly heading in the wrong economic direction. Connecticut’s personal income growth in the second quarter was dead last in the country, and our state is facing a new recession despite never recovering fully from the last two. Let that sink in for a moment. Connecticut families and small businesses need immediate and significant relief. I continue to urge lawmakers in the majority to act, and I will work with anyone in bipartisan fashion to deliver much needed relief to Connecticut. Our people deserve better and our state’s leadership must change course in order to rescue the middle class and make our economy work.”

This year, Sen. Fazio released a multi-step plan aimed at making Connecticut’s economy work, introducing over 20 bills focused on economic growth this term.

First, he joined his Republican colleagues in submitting a plan for $1.2 billion of immediate and broad-based tax relief for all Connecticut families. (see: AffordableConnecticut.com).

Second, he introduced legislation to cut income tax rates across the board and broaden the tax base in order to encourage economic growth.

Fazio also introduced over a dozen bills to streamline regulations to reduce health care and utility costs and support small business and reduce the cost of living.

On the web: SenatorFazio.com