Press release from state Rep. Bill Hamzy --
Impact of Business Tax Hikes on Employers, Workers, to be Aired at ‘Real World Round Table’ in Bristol Friday
Fourslide Spring Event Hosted by Pres. Arthur Funk, state House, Senate GOP Leaders Cafero and McKinney, Rep. Hamzy
The impact of proposed business tax increases on Connecticut employers and the state’s workforce will be the focus of discussion at a “Real World Round Table” scheduled for 10 a.m. Friday, August 21st at Fourslide Spring and Stamping Inc., at 87 Cross Street in Bristol
Hosting the event will be Fourslide President Arthur “Bud” Funk, state Representative William A. Hamzy, R-78th District; state House Republican Leader Lawrence F. Cafero Jr., R-142nd District, and state Senate Republican Leader John McKinney, R-28th District.
“The super-majority Democrats at the state legislature currently are pushing a two-year state budget plan that includes an increase in the surcharge on corporate profits to 8.625 percent and the elimination of certain tax incentives that originally were implemented to attract new employers to Connecticut and encourage existing companies to expand,” said Representative Hamzy, R-78th District. “If their business tax proposals are put in place, they will make it even more difficult for employers to stay afloat during the current recession, which already is well into its second year.”
“Sales are down 33 percent at Fourslide Spring, which has forced the company to reduce its workforce from 26 to 21 people,” Representative Hamzy said. “Increasing business taxes on companies that are struggling to remain open will force them to make difficult decisions to reduce their costs, and that almost always means layoffs. What troubles me most about the Democrats’ budget plan is that the $1.8 billion overall tax increase they are proposing is completely unnecessary. Republican state legislators earlier this month unveiled an alternative budget plan that shows that we can eliminate the state’s projected $8.5 billion deficit without raising taxes - while keeping aid to municipalities and local school districts at current levels and maintaining funding for essential social and human services programs.”
“I look forward to hearing what Mr. Funk and other area business leaders have to say about how the business tax increases the Democrats are supporting will affect their companies and whether they believe higher taxes will lead to more layoffs and another spike in Connecticut’s overall unemployment rate, which currently stands at about 8 percent,” Representative Hamzy said.
In addition to Mr. Funk, other Greater Bristol business people expected to participate in the round table include Bill Lathrop of Colonial Handee Spring; Scott Kirkpatrick, Radcliff Wire; Mark Divenere, Gemco; Mark Leahy, Connecticut Spring and Stamping; Richard Ray, ERA Wire; and Bill Waseleski, of Century Spring.
Fourslide Spring and Stamping Inc. is a recognized leader in the fabrication of formed metal parts. The company produces precision metal stampings, flat springs, metal clips and wire and ribbon forms for a wide range of medical, electrical, automotive, aerospace, military and general industrial goods applications.
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