Today Governor Malloy spoke about how he has taken a “different road” which has resulted in stabilizing the finances of the state budget.
Last year Governor Malloy’s idea of taking a different road was to raise taxes by almost $2 billion, and his idea to get spending under control was to increase state spending over the previous budget. The shared sacrifice he has spoken of so often has not been shared by our state government, but by the working families of Connecticut. This is what has been told to me by many workers from my district who are now getting smaller paychecks.
The recent downgrade in our bond rating means the state’s excessive borrowing will cost us more money in the future. Moreover, the non-partisan Office of Fiscal Analysis has projected a deficit of $145 million by the end of the fiscal year.
With all due respect to the Governor, many people from Bristol, Plymouth and Terryville believe that the top priority is for his administration and the legislature to reduce government spending to more sustainable levels.
I stand ready to make the difficult decisions needed to make honest spending reductions, reduce our borrowing, and reduce the tax burden on our families and businesses to encourage job growth. That is what Connecticut needs right now- that is the different road we need to travel.