Below are informative press clips and studies about current legislative issues. Please feel free to check back regularly for new information. If we can support you with information on another topic, reach out to Carlos Moreno at email@example.com.
Budgets & Taxes
Atlantic’s City Lab: Handing Out Tax Breaks to Businesses is Worse than Useless (Report on study below)
- Journal of Regional Science – The effect of state economic development incentives on employment growth of establishments: “A 2002 study of some 350 companies that received incentives found a negative effect on their ability to create jobs. Companies that received incentives expanded more slowly than others, and the overall effect of incentives was a reduction of 10.5 jobs per establishment.”
CT Voices for Children – Revenue Options are Key to Addressing Budget Shortfalls and Supporting Thriving Communities
- Joining a regional compact to close the carried interest loophole would raise $535 million annually
- A half percentage point increase on the marginal rate for top earners would raise $238
Saskia Sassen – The Global City: Introducing a Concept
- Rich industries do not move. The globalized economy for high-end services (finance, PR, legal, etc.) encourages employers to cluster in areas where barriers to business are low. In places like New York and Greenwich, finance employers not only have access to a high concentration of employable talent and potential clients, they also are surrounded by ancillary businesses they rely on for operation (prime brokers, auditors, lawyers, accountants, etc.). Employers who leave this “agglomeration economy” are essentially paying a penalty to do so, by isolating themselves from the inputs needed for their business to work.
American Sociological Review – Millionaire Migration and Taxation of the Elite: Evidence from Administrative Data
- Rich people don’t move for taxes – millionaire tax flight is occurring, but only at the margins of statistical and socioeconomic significance.
- Everyday taxpayers pay nearly 10 times the amount paid by corporations
- This year, tax breaks (credits, exemptions, deductions, or reductions) amounted to $7.2B dollars. That’s 70% more than in 2000.
NYTimes – Corporate Welfare Won’t Create Jobs. Opinion.
OPM and CSEA – Concepts and Data for Cost savings through In-sourcing
Connecticut’s Overreliance on Finance and Insurance
- Powerful analysis of CT’s over-reliance on the finance sector and its effect on the widening income gap and state budget.
- Overview: In depth analysis of the inner workings of finance industry and how it affects investment in our economy. In short, “every dollar of earnings or borrowing used to be associated with a 40-cent increase in investment. Since the 1980s, though, less than 10 cents of each earned or borrowed dollar is invested. This means fewer jobs created and more money winding up as shareholders’ profits.”
- Overview: Connecticut is too reliant on the finance and insurance industries, which has been in decline since 2008, causing the state to struggle to keep pace with the rest of the country in economic growth.
Wages, Benefits, & Inequality
CT Voices – State of Working Connecticut 2016
- Almost half of all jobs created since the start of the economic recovery have been in low-wage industries, like retail and fast food service, which pay less, and lack the benefits, predictability and flexibility of jobs past. Since 2001, the share of private-sector jobs in low-wage industries has increased by 20 percent, while the share of private-sector jobs in high-wage industries has decreased by 13 percent. Nearly half of new private sector jobs since 2010 are in low-wage industries.
- The median and bottom 10 percent of wage-earners have seen their wages decline by more than 2 percent since 2002, while the top 10 percent have experienced growth of more than 11 percent.
Economic Policy Institute – Public-sector compensation should be a model for the private sector—instead, it’s under attack
National Employment Law Project – 2015 testimony on $15 minimum wage
Washington Post – What you’d need to earn in every state to afford a decent apartment. 2015
- In Connecticut you need to earn $24.29/hour, or work 84 hours per week on the 2015 minimum wage to afford a two-bedroom apartment for a family.
Talk Poverty – 2016 Report on Poverty in Connecticut
- By the numbers look at growing income inequality trend in CT, which ranks 5th highest in the nation. CT is 47 out of 51 (50 states plus DC).
Economic Policy Institute – Union Decline Lowers Wages of Non-Union Workers
- Low and middle income workers get paid less today than before 1970 when they had better protections.
- Nonunion workers benefit from a strong union presence in their labor market in many ways.
- California CEO sings the praises of a $15 wage.
Immigrant Rights & Immigration Reform
New American Economy – Map the Impact of Immigrants’ Contribution to CT’s economy
Trend CT – What it means to be a sanctuary city in CT
Paid Family Leave
Connecticut Campaign for Paid Family Leave – fact sheets
National Partnership for Women and Families – Paid Leave Works in California, New Jersey and Rhode Island
Boston Consulting Group – Why Paid Family Leave Is Good Business
Center for American Progress – The Cost of Work-Family Policy Inaction
- American families suffer $20.6 billion in lost wages due to a lack of access to paid family and medical leave annually.
Public Support for Progressive Policies
Abacus Survey: Polling on Working Families Issues
- 75% favor passing Paid Family and Medical Leave
- 73% favor expanding Paid Sick Days Law
- 63% favor raising the min wage to $15
- 83% favor closing the carried interest loophole
- 66% prefer taxing richest HH to cover budget gap
Washington Post – Leaked documents show strong business support for raising the minimum wage. 2016
- 80% of American business owners support raising the minimum wage and 72% support increasing parental leave policies.