Sen. Kelly: “Stick to the smart fiscal guardrails. Stand firm.”

January 18, 2024

For Immediate Release

Senate Minority Leader Kevin Kelly, R-Stratford, issued the following statement regarding the governor’s Jan. 18 comments about the fiscal guardrails at the Connecticut Business and Industry Association’s annual economic summit.

“The governor is right. We must to stick to the smart fiscal guardrails.  Republicans effectively pushed for these common sense caps and savings programs seven years ago to respect the taxpayers’ sacrifice. What is highly concerning, and only nine months after voting to extend the caps, is the telegraphing by the majority Democrats in Hartford that they want to go around the guardrails to seek ‘balance’, which is code for more spending and more burdens on taxpayers. Just so we are clear, the ‘balance’ the Democrats seek is to spend more now and put more cost and debt on our children.

This legislative session, the governor must stand firm.  The guardrails work.  Last year, Senate Republicans called for the largest income and property tax cuts in state history: $1.5 billion in relief because the guardrails put an extra $600 million into the general fund by avoiding debt payments. The majority Democrats cut that $1.5 billion tax cut in half and now are considering doing away with the guardrails, reducing debt payment savings, and spending more which increases the tax burden on working- and middle-class families. We passed the first state income tax rate cut since the mid-1990s, and those smart fiscal guardrails enabled that.

We must stay within the spending cap and within our means. Connecticut Republicans will continue to push back on attempts by majority Democrats to dismantle the spending caps and budgetary guardrails that have helped create our current surplus and reduce debt. We must do more for working and middle-class families who continue struggle with inflation and the high cost of groceries, heat, electricity and burdensome taxes.”