Hartford Business.com
May 17, 2008
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As legislative session moved into its final week, business leaders from across the state met at the Capitol to urge lawmakers to refrain from raising taxes or enabling state government to compete with the private sector.
Connecticut residents and small businesses alike are fighting to stay afloat in tough economic times, said John Rathgeber, president and CEO of the Connecticut Business & Industry Association.
“We have companies in Connecticut that are struggling right now and it’s difficult for them to balance their budgets,” Rathgeber said. “The legislature needs to give people confidence that this is the right state to make quality investments.”
Nix 401(k) Bill
The business leaders gathered to present a united front on several specific issues.
In particular, they spoke out against a bill to allow the state to manage 401(k) retirement plans for small businesses, legislation broadening sick leave rules, and a bill to expand coverage for workers’ compensation.
Oz Griebel, president and CEO of MetroHartford Alliance, said the state should not compete with the private sector in providing retirement benefits. Instead, it should be concentrating on investments in the state’s future.
“We need to focus on job creation and investments in higher education, specifically at the University of Connecticut,” Griebel said.
Anthony Assante, co-chair of Middlesex County Chamber of Commerce’s legislative committee, said the workers’ compensation proposals were overreaching.
“There are special interest groups that want to change the system, and we have to be in front on that,” Assante said of legislation that would lengthen how long an injured worker can receive benefits and expand the list of eligible ailments.
Homestead Exemption
The leaders also made a plea for no new taxes and leveled special criticism at a “homestead exemption” bill that would create 18 enterprise zones in the state’s largest cities, where property tax owners would get a tax exemption for the first $100,000 in property value.
While the bill would aid homeowners, it could potentially cripple business owners, the business advocates argued.
“The homestead bill is counter-productive,” said Tony Rescigno, president of the New Haven Chamber of Commerce. “It’s not helpful in the short haul or the long haul. The legislature has to think very carefully about taking all new taxes off the table.”
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