Below is the statement of Connecticut Voices for Children on recent, worse-than-expected state revenue projections:

“The new revenue estimates confirm what struggling families all across Connecticut already knew: the economy still has not recovered from the Great Recession,” said Wade Gibson, Director of the Fiscal Policy Center at Connecticut Voices for Children. “As the state considers how best to address the deficit, we should avoid any action that would increase demands on low-income children and families—those least responsible for but most affected by the economic downturn.  Fortunately, most of the projected deficit can be closed by suspending newly proposed tax breaks and revenue changes, such as the expanded angel investor tax credit.”

“Connecticut has the ability to close this deficit without harming our children and families,” said Ellen Shemitz, Executive Director of Connecticut Voices for Children. “We ask our leaders to reject any tax hikes on poor families and to safeguard essential programs that promote early learning and healthy child development.  A smart response today will ensure continued growth tomorrow.”

More about revenues that could be preserved by suspending newly proposed revenue changes:

• Suspending Governor’s proposed Fiscal Year (FY) 2015 revenue changes: $166.9 million
• Suspending phase-in of sales tax clothing exemption: $55.5 million
• Total for FY 2015: $222.4 million
• Projected FY 2015 deficit: $351.2 million