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News from State Senate President Pro Tempore Martin Looney
     

March 11, 2016

Capitol address
Legislative Office Building
Room 3300
Hartford, CT 06106-1591

E-mail me here

On the Web
www.SenatorLooney.cga.ct.gov

Phone
Capitol: 860-240-0375
Toll-free: 1-800-842-1420
 

Standing with Veterans

Vets small business videoLast week I stood side-by-side with veterans who own small-businesses and members of the Veterans' Chamber of Commerce to call for passage of a bill I am sponsoring to give additional support to veteran-owned small businesses by granting those veteran-owned businesses additional bidding preferences under state contracting laws and waiving the first year's business entity tax for start-up veteran-owned businesses. Once passed and signed into law, Connecticut will have the strongest veterans' small business preference in the United States.

As policymakers, we must to pursue every opportunity to improve the lives of these veterans and their families and do everything we can to assure that they earn a good living--either by being employed in a business owned by another, or by starting and maintaining their own successful business. Our proposal will make it easier for veterans to start a business and grow a business here in Connecticut.
 

A Secure Retirement

Vets small business videoFar too many Connecticut residents are approaching retirement without adequate savings. While Social Security has lifted many senior citizens out of abject poverty, it does not in fact provide a decent living for those with no other source of retirement income. This problem will become one of extraordinary urgency as more and more children of the baby boom reach retirement age.

That's why, this week, I testified on behalf of legislation I am sponsoring to allow employees to contribute to a low-cost, low-risk plan via payroll deduction and receive a guaranteed return. Several studies have shown that employees are far more likely to contribute to retirement savings if payroll deduction is an option.

Many Connecticut citizens whose employers do not offer retirement plans are moderate income workers who are most in need of income beyond Social Security and, in general, workers of moderate income do not have the option of setting aside significant amounts in personal retirement savings since their earnings and ordinary expenses barely balance.
 

 
 

You're receiving this newsletter because you either opted in via e-mail or on my website, or you've been in touch with me or my office regarding an issue or issues of importance to you.

My mailing address is:
Senator Martin Looney, Legislative Office Building, Room 3300, Hartford, Connecticut 06106
Capitol telephone: 860-240-8600, or Toll-free: 1-800-842-1420

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