Just ask Connecticut – budget writers decided to increase certain business taxes and immediately two large employers, General Electric and Aetna, sent out statements that they would leave the state and go somewhere else.
The statements came in response to proposed tax hikes that would charge higher rates for data processing, reporting and taxing the location of headquarters, and even for some internet downloads. House and Senate Democratic leadership announced the framework of the budget over the weekend and had intended to approve it today.
However, the threats from corporate giants GE and Aetna led to a slamming of the brakes by negotiators after the budget never made it to the House floor Monday night, just two days before the end of the legislative session.
“They were serious in what they said yesterday” said Joe Brennan, the President of the Connecticut Business and Industry Association. “You don’t get statements like that out of the highest level of these global corporations, these idle threats. They’re really really concerned about the direction of the state of Connecticut and they just want to underscore their seriousness.”
