State Reps. Pam Staneski (R-119) and Charles Ferraro (R-117) joined their Republican colleagues in the House and Senate to offer an alternative budget proposal that fully eliminates the $321.5 million deficit and restores funding for core services.
The proposal aims to eliminate Connecticut’s $321.5 million budget deficit without raising taxes while maintaining funding for transportation, Education Cost Sharing grants, core social services, and tax breaks for seniors, retirees and working families. According to a statement, more dollars are also dedicated to repaying the state’s unfunded liabilities, including the State Employees’ Retirement Fund, the Teachers’ Retirement Fund, and the Teachers’ Healthcare Fund.
The representatives say they will continue to advocate for further structural changes to state government, and to reduce funds that had been allocated to bailing out the city of Hartford.
The Republican proposal claims to fully balance the fiscal year 2019 budget. The plan would direct any revenue that exceeds the defined volatility cap toward the following three areas in equal thirds: the state employee retirement fund; the teacher’s retirement fund (with $8 million of that earmarked for the retired teachers health fund); and the rainy day fund.
The proposal fully funds the Special Transportation Fund, restores funding for the Medicare Savings Program, and avoids the governor’s proposed cuts to education funding and municipal aid.
During a meeting of the Appropriations Committee, of which Staneski is a member, the Democrat majority refused to support the Republican plan, instead voting for its own spending plan. The Republicans claim that plan which did not address the state’s unfunded liability, and that it included $213 million more in state spending than the legislature had agreed to in the bipartisan budget passed in November 2017.
“What we need to understand is that continuing to not address our unfunded pension liabilities has a ripple effect on the state’s economy,” Staneski said. “Our budget proposal works to tackle the long-term debt problem head on. Rather than increasing state spending, our plan would put any surplus revenue towards those liabilities and the rainy day fund. The budget balances in a way that is practical, sustainable, and predictable. Connecticut has a long road to recovery, and this budget reflects that reality, but it also gives us the structure we need to achieve that goal.”
“Our budget plan is balanced and a pro-taxpayer approach that will continue our efforts to reform state government,” Ferraro said. “We need to prioritize spending, reshape state government, and help those that need it the most. The budget we presented does just that and will create a predictable economic environment that residents and businesses can trust.”
State Reps. Charles Ferraro and Pam Staneski joined their Republican colleagues in supporting their party’s budget proposal. Contributed photo.