Connecticut Lawmakers Should Keep the Fiscal Guardrails Intact
In a state with one of the highest per capita incomes and heaviest state and local tax burdens in the United States, it’s remarkable that Connecticut’s politicians managed to accrue one of the largest per capita debts in the nation.
Only the establishment of the bipartisan fiscal guardrails have preserved our state from economic disaster. It would be a catastrophic mistake to destroy them as Connecticut is finally trending in the right direction and — as Gov. Lamont has stated — has ‘momentum.’ SEBAC (state government unions) already negotiated one deal to override state law, which resulted in the underfunding of our state pensions.
Now, they’re complaining about the underfunding of state programs — conveniently, just as they’re due to negotiate another round of pay raises. Connecticut’s hard-working residents have suffered long enough from the financial burdens that result from capitulation to a powerful special interest.
We agree with Gov. Lamont and Comptroller Scanlon that the legislature must hold strong to the fiscal guardrails in order to secure our state’s financial future.
For more information, please contact Bryce Chinault, Bryce@YankeeInstitute.org or (860) 426-6343.
For more ideas on how we can make Connecticut a more prosperous and dynamic place to live and work, please visit YankeeInstitute.org.
About Yankee Institute
Yankee Institute is a research and citizen organization founded in 1984 under section 501(c)(3) of the Internal Revenue Service Code. Yankee Institute is the eyes, ears and voice for hard-working people who want a prosperous Connecticut. Our common-sense solutions drive positive legislative results to strengthen our communities and build a vibrant, hopeful future.
