More than 2,500 Connecticut residents could lose their jobs if the legislature approved a tax plan that is proposed.
The state General Assembly is considering a 30 percent surcharge on corporate income and eliminating the sales tax exemption on computer and data processing services. Along with the possibility of losing 2,500 jobs, the state could also lose about $350 million in the state's annual gross domestic product over the next decade, the New Haven Register reports.
"A few of the elements in their proposal could result in a $3.4 billion decline in our domestic gross product and the loss of thousands of jobs,” state Department of Economic and Community Development Commissioner Joan McDonald the New Haven Register reports.
“Right now is the wrong time to slow economic growth and kill jobs by strangling our businesses with a network of new taxes.” Derek Slap, spokesman for state Senate President Pro Tempore Donald Williams Jr., D-Brooklyn told the Register. "Our fear is that the Rell administration would rather gut municipal aid, education funding and health care for children than adopt a more balanced approach."
