Bacchiochi, Republican leaders, announce state finance fixes

HARTFORD – State Rep. Penny Bacchiochi (R-52) today joined Republican leaders in announcing budget adjustments that will benefit local municipalities and make more responsible decisions for future funding, calling it the “most honest” spending plan in Connecticut.

The budget fix is an honest and transparent proposal unlike anything Gov. Dannel P. Malloy and the Democratic majority have put out. The Republican proposal will reduce the two-year $2 billion budget deficit while still adding money to the unfunded teacher health care plans and state employee pensions. 

“This proposal is an open, honest look at how the state is spending taxpayer dollars and it’s an honest accounting approach,” Bacchiochi said. “This plan isn’t filled with gimmicks or poor principles. It will bring money back to where it belongs – the municipalities – and pays down outstanding debts. We can’t afford to tippy-toe around our debt any longer or pay off voters with $55 checks.”

Republicans plan adding $45 million in Critical Program Funding, including:

·          restoring $9 million to the retired teacher’s health care plan

·          a 1 percent cost of living increase for home health aides

·          $15 million to maintain primary care provider rates.

·         Adding DSS staff to ease client waiting lists for $4.4 million 

The Republican plan eliminates Gov. Malloy’s plan to give Connecticut residents $55 rebate checks just months before the election, and it halts Keno gambling before it gets started in Connecticut bars and stores.

Some of the state’s excess revenue will be used judiciously:

• $346 million to pay off long-term debt, including $196 million to pay off Economic Recovery Notes in order to reduce long term debt that Democrats have delayed
• $133 million to accelerate the sales tax exemption on clothing and footwear under $50
• $60 million to eliminate to the surcharge businesses pay for interest on money borrowed for the state’s unemployment insurance fund
• $100 million to shore the state employee pension funds. 

The remaining excess funds would be used to pay down debt and go into the state’s Rainy Day Fund under the Republican plan. 

“Instead of continuing with the budget the majority party passed last year, and its excessive spending habits continuing this year, we can put Connecticut back on track. Our proposal addresses the concerns of so many taxpayers and revisits our priorities,” Bacchiochi said.