‘Blue’ States Make Fiscal Progress: Jonathan Williams on American Radio Journal
Leaders in California or Illinois should take a hint from Hawaii and Connecticut, recognizing that high taxes have strangled economic growth businesses and families.
In his latest American Radio Journal commentary, ALEC EVP of Policy and Chief Economist Jonathan Williams discussed recent tax cuts in Connecticut and Hawaii, highlighting their positive impact on individuals and businesses. He contrasts these states’ approaches with those of California and Illinois, which have seen budget deficits amid high taxes and overspending. Williams argues that state policy competition and recognition of economic reality are leading to positive changes in states known for high taxes like Connecticut.
American state policymakers are realizing that the laws of economics apply regardless of party affiliation. Last year, Connecticut lawmakers took a small step to improve their state’s anti-competitive tax system and declining economy by providing $350 million in personal income tax cuts.
The Constitution State put more money back into taxpayers pocketbooks in the ultra-high tax northeast. Moves like these can help attract migration from neighboring states. State leaders are also rightly concerned with improving Connecticut’s overall fiscal health.
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Leaders in California or Illinois should take a hint from Hawaii and Connecticut, recognizing that high taxes have strangled economic growth businesses and families. But will they continue down their current path moving taxes ever higher and pursuing more residents because going to other states for opportunities? Well, only time will tell. It is clear that overspending isn’t just a massive problem in Washington DC. It’s a major problem in many states as well.