This week a lot of things happened—all culminating with terrible news.
After working to review, debate and prepare a budget that cut spending and did not raise taxes, the Republicans stood united to support the alternative budget called “Confident Connecticut”. I am proud of the work to accomplish positive change for our residents and taxpayers. Then our worst fears realized. Connecticut was behind $450 million in income tax collection/revenue. The numbers were trending terribly down all week. We will know for sure about the final numbers on Monday, May 1st.
This news is especially heartbreaking when I think about the proposed bills and spending increases that have come out of Hartford for the last 4 years and beyond. So, every current budget proposal may be $450 million out of balance in each year of 2018/2019—including the Governor’s and the Democrat led Appropriations Committee. Although, since the Appropriations budget was not called for a vote by the Democrat leadership, you cannot look it up online. But, you can be assured the work has already begun to re-balance the Republican alternative.
One more immediate question: what is the majority doing about a potential $450 million deficit in this current year? Could the prospect of needing to borrow more money in order to balance the CT checkbook on July 1, 2017 be a concern?
Here is our proposal.
Republican Budget Links