House and Senate GOP Call for Budget Action During Special Session

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[...Republican budget proposal will protect municipal state aid, fund Early Reading Success, encourage s...]
Jul
2008

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Republican budget proposal will protect municipal state aid, fund Early Reading Success, encourage small business growth and reduce state gas taxes Amid skyrocketing gasoline prices, worsening economic indicators and pleas for help from taxpayers, educators, nursing homes, private providers, public housing authorities, Mayors and First Selectmen; Legislative Republicans today reintroduced their alternative budget proposal and again called on Democratic legislators to pass it. The Republican budget, first introduced in April, would cut state gas taxes, protect municipal state aid, fund the Early Reading Success program, provide tax incentives to small businesses, streamline state government, and reduce state spending by more than $160 million. “This modified budget proposal is clear path forward and a way out of a looming fiscal mess. Unless we make some honest choices now there will a lot more pain for taxpayers and working families down the road, ” said House Republican Leader Lawrence F. Cafero, Jr. “We have put reasonable compromises on the table and set our priorities for state taxpayers and our towns and cities. We still have time to act.” In anticipation of a June special session, Republicans have revised their proposal to address the debate on extending the state conveyance tax. The Republicans have proposed a solution that will lower the conveyance tax rate without lowering state aid to municipalities. They accomplish this by keeping the municipal portion of the conveyance tax intact, while reducing the state portion (.5% on residential real estate sales under $800,000) by .15%. The savings to taxpayers is equal to savings that would be achieved if the conveyance tax were to sunset. The Republicans pay for the tax cut by implementing a Tax Amnesty program. The Republican budget proposal is balanced, offers significant and lasting tax cuts, addresses shortfalls in the Special Transportation Fund (STF) and funds the two major criminal
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