In An Election Year Flush With Cash Does State Reserve Or Spend?

Every occupant of state elective office will be on the ballot this year, from the governor and other constitutional positions to all members of the Connecticut legislature. The state is roaring in financial resources unrealized for decades.

What do to in an election year? Spend more on core services, as well as aid to municipalities, or pay down more debt?

The Connecticut Mirror’s Keith Phaneuf examines the pros and cons.

Both the governor’s office and the legislature are up for grabs this election year, and officials from both parties have put a myriad of tax cuts on the table.

Tax cuts cost the state government money–in this case, tens and even hundreds of millions of dollars per year.

Lamont wants to ease property tax burdens by expanding a middle-class state income tax credit and giving towns more funds to help them free car taxes.

Senate Republicans have proposed a temporary rollback of the sales tax, and their House counterparts are exploring even more aggressive state income tax relief than Lamont proposed.

“The family budgets are getting crushed,” said Senate Minority Leader Kevin Kelly, R-Stratford. “What we’re hearing from families across Connecticut is that they need help, they need relief, that the economy for Connecticut is not performing for them.”

Full story here.


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