CT Working Families: Lamont budget presents critical steps forward, must do more to address wealth inequality crisis
Applauds public Paid Family & Medical Leave, $15 minimum wage
Calling to invest in the future by addressing wealth inequality, asking our growing number of millionaires and billionaires to pay their fair share
In response to Governor Lamont’s budget address:
Carlos Moreno, State Director, Connecticut Working Families Organization:
“We applaud Governor Lamont for proposing significant steps to move Connecticut’s economy and families forward.
“Governor Lamont’s budget proposal takes some critical steps forward in enabling hard working people in our state to get ahead. Paid Family & Medical Leave and a $15 minimum wage will help to lift families out of poverty, ensure a better quality of life for hundreds of thousands of workers, and make our economy more competitive with neighboring states.
“While no single reform can do enough to address the extreme inequality crisis we face, one key way to tackle growing income inequality is to stop allowing our state’s wealthiest few to pay half the effective tax rate of the working poor. But to really level the playing field, we need to look at an even bigger crisis than our growing income inequality—we must address wealth.
“While incomes, sales taxes, property taxes, and public investments keep our economy moving, accumulated wealth does not. It sits and builds power for a privileged few while leaving our economy stagnant. We need to look at additional ways to capture wealth in our state.
“As one of the richest and most unequal states in the country, repealing the gift tax is a big step backward, reinforcing the intergenerational transfer of wealth which has historically excluded people of color from succeeding in our economy. The gift tax is a policy deeply rooted in tackling a legacy of institutional and structural racism.
“We look forward to working with the Governor to build a Connecticut economy that works for everyone, whether white, Black, or brown.”