The state’s chief business lobby, the Connecticut Business and Industry Association, took to the airwaves Monday to press for bold spending reforms to mitigate growing state budget deficits.
It was inevitable. Suzanne Bates of the Yankee Institute, a conservative think tank critical of public-employee benefits, found herself at a table next to Daniel J. Livingston, the lawyer who negotiates those benefits for state employee unions. The unlikely table mates were emblematic of an experiment staged Friday to find a new approach to economic policy in Connecticut.
According to several sources close to the bipartisan talks that begin today, Gov. Dannel P. Malloy’s administration will suggest a modest business tax cut to improve Connecticut’s economic climate.
Leading advocates for Connecticut’s businesses, workers and municipal governments will gather next month in Westbrook to tackle the challenges facing the state economy and state government finances.
WASHINGTON – How healthy is the state’s economy? It’s a tale of two Connecticuts, and the subject of widely different viewpoints. But a recent federal report shows Connecticut’s big cities lag most others in the nation when it comes to economic growth.
The fall meeting of the Connecticut Business and Industry Association’s Energy and Environment Council features a keynote address by Yale professor and former DEEP Commissioner Dan Esty, sharing “his insider’s perspective on where climate policy is headed.” The event will also include a tour of Wallingford-based Proton Onsite, a global leader in gas generation and renewable energy storage. So why does the promotional description of the event in CBIA’s recent newsletter call for a reconsideration of Connecticut’s existing commitments to climate protection?
The annual business survey by the Connecticut Business and Industry Association was released Friday as the new state Commission on Economic Competitiveness begins assessing a business climate regularly described as dismal in national ratings. “The challenge for us is why,” said Joseph McGee, co-chairman of the commission.
Connecticut gained 4,100 jobs in July as the unemployment rate fell to a seven-year low of 5.4 percent, marking three consecutive months of job growth that have brought the state’s unemployment rate close to the U.S. average of 5.3 percent.
Connecticut’s unemployment rate dropped to 5.7 percent in June, its lowest point since July 2008, as the state added 600 jobs last month – including 2,600 in the private sector that offset losses in government employment, the state Department of Labor reported Monday.
The Connecticut Business and Industry Association brought a new voice Monday to its campaign to roll back state tax hikes — a major Hartford-based job development nonprofit. During a rally mid-day rally outside of the Capitol, the CBIA also tried to undercut one of its opposition’s chief arguments: that Connecticut businesses are profitable enough to afford more taxes.
Forbes ranks Connecticut 36th among the states as a place to do business. Others peg it as low as 47th. On the plus side, Bloomberg places it fourth on its list of innovative states. And Connecticut ties for second-lowest business tax burden measured against productivity. Does it matter?
Gov. Dannel P. Malloy proposed Friday to roll back about $220 million in business tax hikes before they take effect in the new two-year state budget July 1 and replace them with still-to-be-identified spending cuts. Legislative leaders offered no ready endorsement, saying they will review the plan.
Gov. Dannel P. Malloy forced legislators to yield to his every key tax demand in budget negotiations last week, including setting aside a portion of the sales tax for the long-term transportation improvements that could be the governor’s legacy. Now comes the harder task: Convincing the rest of Connecticut to accept his priorities and ignore the outcry over higher taxes on business.
Connecticut business leaders warned Thursday that a controversial corporation tax change under consideration for the next state budget could have a profound and immediate impact on the state’s job market.
Employers would be barred from disciplining employees who voluntarily share information about their pay under legislation passed early Wednesday by the House and sent to the Senate.