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GE raps Connecticut budget proposing spending, tax increases

Fairfield-based General Electric has taken the rare step of criticizing a state budget proposal that boosts spending and taxes and questions whether businesses and individuals should stay in Connecticut.  The industrial conglomerate called the proposed tax increase "truly discouraging." 

 

The company employs 5,700 in Connecticut, says retroactively raising taxes makes businesses and residents "seriously consider whether it makes any sense" to stay.

 

Ridgefield Representative John Frey recalled a phone conversation about whether the Office of Fiscal Analysis factored in if there will be less jobs in Connecticut.  The CFO of GE is one of Frey's constituents, who called Sunday, saying the Fairfield-based company might reconsider calling Connecticut home.

 

Frey says that reminded him of 2010 when United Technologies said "anywhere but Connecticut" for doing business.

 

Frey says New York officials were in touch with GE on Monday.  The company says other states offer more opportunities and a better environment for business growth.

 

Hartford-based Aetna said in a statement Monday that they are also looking to reconsider the viability of continuing major operations in the state.

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