Sen. Kane says listen to the advice of Webster Bank CEO James C. Smith

Sen. Kane
Sen. Rob Kane

Connecticut state Sen. Rob Kane, R-Watertown, is calling on the Connecticut General Assembly to listen to the advice of James C. Smith, CEO of Webster Bank.  Speaking before the Connecticut Spending Cap Commission earlier this year, Smith said “Heed the will of voters and adopt strong cap definitions that will control state spending.”

When the state legislature passed the state income tax in 1991, it was in conjunction with a voter approved state spending cap, but the legislature has never followed the cap.  In fact, at times it exempted some items from being calculated in the budget to fall within the cap, that was until State Attorney General George Jepsen ruled earlier this year the spending cap doesn’t even exist.  Jepsen argued though voters approved a spending cap, the General Assembly never defined a strict cap.

Kane, sometimes mentioned as a GOP gubernatorial candidate, wrote in an op-ed piece, “That spending cap never was enforced, taxes have gone higher to cover government’s cost, and it’s officially crisis time in Connecticut.”  He wrote that if the state had an “iron-clad” spending cap it would spark several positive actions, including business growth.