The Connecticut Business and Industry Association (CBIA) announced its opposition to Gov. Dannel Malloy’s budget proposal released Feb. 6.
Calling for broader spending cuts, CBIA officials expressed concern over extended taxes due to expire this year, including the corporate tax surcharge, electric generation tax and insurance premium tax credit.
“Connecticut must make its tax system more competitive if we’re going to attract private investment, allow businesses to grow, and get people back to work,” said John R. Rathgeber, CBIA CEO, in a statement. “We need to aggressively pursue policies that will grow the state’s economy and close out what has become an endless cycle of budget deficits.”