🔒Bordonaro: CT Dems don’t have a mandate for more taxes

Democrats made further gains in the state legislature Nov. 3, as Connecticut voters repudiated President Donald Trump and punished state Republicans in the process.

With commanding majorities in the state Senate and House, Democrats can impose their will on Connecticut residents and businesses starting in January, when a long and important legislative session begins.

But they shouldn’t take their most recent victory as a mandate to push further to the left, especially on tax and economic policies.

Connecticut’s economy remains in rough shape amid the COVID-19 pandemic. Things likely aren’t getting better anytime soon as we head into a cold and dark winter with the virus ramping up.

Yet, the state has a unique opportunity to continue recruiting new businesses and wealthy residents from New York City, a trend we’ve seen in recent months as people flee to the suburbs from more densely populated cities that have been hit hard by the pandemic.

Need some proof that’s a real trend? In October, RE/MAX named Greater Hartford one of the hottest residential real estate markets in the nation, behind only San Francisco and Billings, Montana.

I’m not sure this is a long-term trend, but Connecticut has a chance to showcase itself as a pro-growth and pro-business state.

All eyes will be on Democratic leadership in January. And the main focus should be on controlling the pandemic, preparing for the rollout of a vaccine, balancing the budget and figuring out how to boost the economy.

Tax increases, something liberal Democrats will undoubtedly push for as Connecticut faces budget deficits in the years ahead, should be off the table as they threaten to thwart economic-growth opportunities — and potentially scare away Empire State residents.

Gov. Ned Lamont, who is now on the re-election clock as he heads into his third year in office, has already set a positive tone, saying he would oppose any attempts to raise taxes next year, even on high earners.

He said he’s banking on extra federal support from a Biden administration to help balance the budget. Connecticut also has a $3.1-billion rainy day fund it can tap to balance what’s estimated to be a $1.3-billion deficit, a shortfall that’s 40% smaller than what it was a few months ago, thanks to surging tax receipts.

Democrats will be led in the House by first-time Speaker Matt Ritter of Hartford. The Shipman & Goodwin lawyer plays more to the center of his party but he will face pressure from liberal Democrats, one of whom has already called for government-sponsored health care.

Two issues likely to garner a lot of attention are sports betting and recreational marijuana legalization.

At this point, these are industries Connecticut should allow, closely regulate and tax (no, I don’t consider this a tax increase).

To me, sports betting is a no-brainer, particularly when we already have two of the largest casinos in North America. I see very little distinction between betting on black or red vs. the Dallas Cowboys or New York Giants (for the record, I wouldn’t bet on either of those teams right now).

However, I understand the complications associated with determining who runs (and benefits from) the industry, with Foxwoods and Mohegan Sun claiming exclusive rights as part of their gaming pact with the state.

We’ll see if Ritter can hammer out an agreement.

I’ve been opposed to recreational marijuana in the past, and still am no fan, but with five more states legalizing it during the recent election cycle, the industry is clearly budding around the country.

It will eventually wash up on Connecticut’s shores so I don’t see much upside in waiting any longer.