About 500 business owners swarmed the state Capitol Wednesday morning to implore lawmakers to do more help businesses, saying proposed tax increases will hurt the state’s economy and their ability to grow jobs.
The crowd at Connecticut Business Day far outpaced the expected attendance of 300 people, showing just how concerned CT Inc. is about the state’s fiscal problems.
Gov. Dannel P. Malloy addressed the audience at 9:30 a.m., receiving a standing ovation when he took to the podium. He asked business owners to support his “shared sacrifice” budget plan that proposes to close the state’s $3.2 billion budget deficit with $1 billion in union concessions, reduced spending and $1.5 billion in tax increases.
He said his budget plan is an “absolute change and break from the past,” when for far too long state lawmakers have spent too much money, failed to grow jobs, and haven’t invested in the future.
“There can be no sacred cows,” Malloy said. “We are choosing a different direction to confront what’s wrong with Connecticut.”
House Republican Leader Larry Cafero also addressed the crowd saying that while he hopes Malloy succeeds as governor, he believes the $1.5 billion in proposed tax increases will not make Connecticut “open for business.”
Although Malloy has proposed to cut spending by $800 million in his budget, Cafero said it doesn’t go nearly far enough.
“Businesses have already sacrificed,” Cafero said, noting the Connecticut has lost nearly 100,000 jobs since 2008, with over 15,000 businesses having closed their doors. “You have to cut spending.”
Senate Republican Leader John McKinney also spoke out at the event, venting his frustration about the proposed mandated paid sick leave bill.
“We can’t be the first state to mandate paid sick leave,” McKinney said. “It’s more about the statement it makes than the impact of the policy.”
Business owners who spoke at the event, sponsored by the Connecticut Business & Industry Association and the Connecticut Association of Chambers of Commerce Executives, raised concerns about the proposed tax increases, as well as high energy and health care costs to name a few issues.
