Senate Leadership
June 18, 2009
Democrats Agree to Hundreds of Millions in Additional Budget Cuts
Legislative leaders say as result, property tax credit will be protected
Senate President Donald E. Williams, Jr. (D-Brooklyn) and Speaker of the House Christopher G. Donovan (D-Meriden) are proposing that budget cuts for the next biennium total approximately $3.5 billion.
As efforts continue to reach agreement on the budget, legislative Democrats are also announcing that the new cuts mean that the property tax credit for homeowners will be fully restored and business sales taxes will not increase. Both of these items were in the Democrats’ original budget put forth in April.
“We have worked hard to identify fair and responsible cuts that will allow us to protect the property tax credit and prevent the elimination of important sales tax exemptions,” Speaker Donovan said. “We are making real progress towards a responsible budget that protects the people of Connecticut. As we have seen in recent days, the people of Connecticut — especially small businesses, working families, the disabled and the elderly — are already hit hard by the recession and are not willing to accept cuts that eliminate or reduce the services they desperately need.”
Senator Williams said, “We believe additional spending cuts, along with a mix of borrowing and revenue increases, is the fairest and most responsible way to balance the budget. Now is the time for everyone to put partisan differences aside, and sit down at the negotiating table with a spirit of cooperation.”
Speaker Donovan continued, “We know that even the cuts we are agreeing to will be painful for some, but we believe they are fair. They do not devastate programs people rely upon, and they will make a significant contribution to eliminating our historic deficit and protecting other policies.”
The non-partisan Office of Fiscal Analysis (OFA) projects the budget deficit for the next biennium is $8.7 billion while Gov. Rell’s budget office — the Office of Policy and Management (OPM) — projects the deficit at $7.95 billion. Legislative Democrats are hoping to reach agreement with the Rell administration on a budget before the end of the current fiscal year, at the same time Democrats are working to craft their own budget if an agreement is not reached.
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Senator Williams’ Derek Slap |
Listing of Leadership’s recent press releases. |
Senator Looney’s Derek Slap |
