September 13, 2017

CBIA backs Republican spending plan

PHOTO | Pablo Robles
PHOTO | Pablo Robles
Joe Brennan, president and CEO of the Connecticut Business & Industry Association.

On the eve of potential decision-making on the state budget, the Connecticut Business & Industry Association has endorsed the Republican budget as the one that best addresses the business community's and state's needs.

Speaking on behalf of CBIA membership, who want predictability, confidence and affordability, CEO Joe Brennan said Wednesday afternoon that the GOP's latest spending plan controls government spending and includes long-term structural reforms, including a stronger cap on borrowing, required votes on union contracts, and changes to pension and benefit costs at the end of the current union contract.

The CBIA not only supports the GOP budget but backs lawmakers from both parties who are trying to avoid raising taxes, he said.

That said, the organization is calling for a "bipartisan" budget that introduces spending reforms while also avoiding "the harmful tax increases that will only make it harder to keep good jobs in Connecticut.

"By doing that, policymakers will show businesses and residents that we're changing course," Brennan said. "The resulting confidence will help bring about the brighter economic future we all deserve."

Gov. Dannel P. Malloy and Democrats are close to a budget agreement that would raise taxes on hospitals, curtail income tax credits for the middle class and working poor and boost the sales tax levy on restaurant transactions.

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