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The reforms are estimated to save the unemployment fund $84.25 million annually while generating $130.9 million in new annual revenues.
“Instead of adding on more taxes, lawmakers should instead look towards policies that will help local businesses thrive," said CBIA President and CEO Chris DiPentima.
“This is a missed opportunity that will have real-life consequences for the small employers in our state," said State Comptroller Kevin Lembo.
“Months of dislocation are always opportunities,” declared Pitney President and CEO Marc Lautenbach about the pandemic.
It won’t be “Smoke ‘em if you got ‘em” at many businesses.
“What is the biggest threat to our recovery? Ourselves,” CBIA President and CEO Chris DiPentima declared.
Gov. Ned Lamont has repeatedly said he will not support new taxes on Connecticut residents, but indicated yesterday that he was willing to discuss the proposals further.
The bills “increase costs for small businesses, create barriers to job growth ... and unnecessarily hamper Connecticut’s economic recovery,” according to the organizations.
"I’m hopeful the spirit of collaboration that led us to this point will fuel additional conversation about action we can take together to create a more competitive business climate," said House Minority Leader Vincent Candelora (R-North Branford).
Employers currently are solely responsible for repaying the $700 million that the state borrowed from the federal government to pay pandemic-related unemployment compensation benefits. With interest, they said, that sum could rise to $1 billion.
Almost a quarter of employers anticipate increasing the size of their workforce over the next six months, while only 11% predict reductions.
“A pretty good spring and summer is my hope,” the governor said.
A recent report raises what the association terms “serious questions about the Connecticut Partnership Plan’s fiscal performance and outlook.”