To ensure bipartisan support for Connecticut’s next two-year budget, Democratic House Speaker Matt Ritter has said he is willing to adopt some ideas from the state’s GOP minority.
The plan will call for restoring the pass-through entity tax deduction for businesses and using some of the revenue savings from paying down the state’s pension obligations on a broad-based tax cut, said Vincent Candelora (R-Branford), the House minority leader.
“We’ve got to return those savings back to the people and back to businesses to move Connecticut from being the highest taxed state in the country to being more affordable,” Candelora said at a breakfast meeting with members of the Middlesex County Chamber of Commerce.
Speaker Ritter has said he is open to that.
“If Vinny comes in and says here’s 20 votes for the budget if you do these six things, we’ll look at it,” Ritter said at a news briefing before Thursday’s House session.
Democratic lawmakers expect to increase funding for nonprofit providers, higher education and long-term health workers in the final budget negotiations.
“We’ll put it to everybody, Republicans and Democrats and the executive branch,” Ritter said. “And say we think if we spend ‘X’ amount of money this would be a pretty good budget. And then you have the finance package and some people might want to have more tax breaks than we did in the finance package. But you can see where a package could come together. And I really truly believe, ultimately we will end up with a bipartisan budget.”
Only about $200 to $300 million of the state’s $50 billion two-year tax and spend plan is being negotiated, according to Ritter.
Democratic Governor Ned Lamont presented his plan for the state’s next $50 billion two-year budget in February. Legislative Democrats came up with theirs two weeks ago.
This year’s state income tax revenues are expected to be announced on Monday, setting the stage for final budget negotiations to begin.
Lawmakers must pass a state budget before the session ends on June 7.
