Fiscal Responsibility

I am the descendant of a long line of old Yankees, and I have inherited their thrift. Give me a budget and I will cut it.

Our Republican caucus has proposed a list of reforms called the “Common Sense Commitment.” These are fiscally conservative values I believe in: not spending more than we take in, not borrowing what we can’t repay, not providing more government than we require.

Twenty years of reckless spending by both parties have led to the projected $3.5 billion deficit. If we are going to get Connecticut back on track, we must cut spending and make government smaller.  To that end, I have reduced my own franking privileges (legislative mail paid by the state) and vowed not to send unsolicited communications without good cause.

The common sense ideas endorsed by legislative Republicans include rolling back spending to previous levels, with a five percent reduction in the state’s workforce and elimination of longevity bonuses for state employees.  A two-year pay freeze for state workers would save over half a billion dollars, according to the non-partisan Office of Fiscal Analysis.

The long-term restructuring of pension benefits for state employees is essential. Revamping the system includes requiring state employees to contribute more to their retirement packages and raising the retirement age. Each Connecticut taxpayer currently pays out $485 a year to fund state employee retirement, yet the system carries an $11.7 billion unfunded liability, which represents $3,325 for every man, woman and child in the state.  These numbers are simply not sustainable.

Senator Markley Supports the Legislative Republicans Common Sense Commitment to Connecticut >>