After runaway spending and sluggish revenues caused Governor Malloy's budget to plunge into multi-billion dollar deficits over the next two years, State Rep. Arthur J. O’Neill (R-69) continues to offer responsible solutions.
State Comptroller Kevin Lembo has placed the state's budget deficit at $415 million this year, with a growing deficit of nearly $2 billion over the next two fiscal years. To help correct this year's shortfall, the Governor released a list of budget cuts last week.
While the Administration claims $170 million in cuts, that figure does not account for double-counted savings and federal revenue the state will lose by reducing social service programs. Given those losses, the actual impact the cuts have on our budget is a modest reduction of about $105 million, leaving the legislature with around a $310 million problem.
"I am committed to working with my colleagues in the legislature and the Administration to resolve the immediate and long term budget deficits -- without raising taxes," said Rep. O'Neill, a member of the Appropriations Committee.
Gov. Malloy has stated that he does not "intend" to increase taxes to balance the budget.
"I am also dedicated to creating an upcoming budget plan that adheres to the state's constitutional spending cap. Out of control spending, which Gov. Malloy has increased 7 percent, is projected to burst the cap by $1.3 billion next fiscal year. We simply can't keep spending more than we take in."
The past two years Rep. O'Neill has joined his Republican colleagues in creating a balanced budget alternative that does not increase spending, does not increase taxes and stays within the spending cap. Those proposals were voted down on party lines by majority democrats.
Due to the size of the deficit, the Governor is required to develop a more extensive deficit mitigation plan to present to the legislature in December.
The regular 2013 legislative session begins on January 9. Governor Malloy will release his two-year budget proposal to the legislature in early February.