Governor Malloy Praises Washington’s Defense SpendingJanuary 11, 2017
There is no doubt that Connecticut benefits greatly from America’s massive defense budget.
In 2017, as state budgets across the nation are tightening Washington’s defense spending is cruising along nicely:
Today President Barack Obama sent Congress a proposed budget request of $582.7 billion in discretionary budget authority to fund the Department of Defense in Fiscal Year 2017 (FY 2017).
There is no doubt that Connecticut benefits greatly from America’s massive defense budget. Despite Connecticut’s looming budget crisis, Governor Malloy focused his January State of the State address on lauding Connecticut’s role in American weapons manufacturing.
Malloy even praised the state legislature for giving tax breaks to defense giant UTC, in exchange for promises for future development:
Legislation promoted by Malloy in 2014 allows UTC to use up to $400 million in accumulated state tax credits in exchange for a commitment by the aerospace and building systems conglomerate to spend as much as $500 million to upgrade and expand its various businesses, including Pratt & Whitney, by 2020. The legislature approved the deal with bipartisan support, but some critics have called it a giveaway benefiting just one company.
Connecticut houses some of the largest defense manufacturers in the country, from aerospace to small arms, and cashes in on government defense programs like the F-35.
Ironically, Sen. Chris Murphy (D-Conn.) voted against an $18 billion dollar increase in defense spending last year.
Want to see more content like this?
Sign up for Email updates.