Indiana Tries To Lure Connecticut Firms Amid Tax Controversy
The state of Indiana is suggesting three major Connecticut employers that openly criticized planned tax increases consider moving to the Hoosier State. On Wednesday, Indiana ran a full-page ad in the Wall Street Journal that reaches out to General Electric, Aetna and the Travelers Companies.The ad says Indiana is offering its support because “friends don't let friends pay higher taxes."
Joe Brennan of the Connecticut Business and Industry Association says other states also contacted those companies since the General Assembly passed a two-year $40 billion budget with business tax increases meant to raise $700 million last week.
Governor Dannel Malloy says Connecticut has one of the lowest corporate tax rates.
“The legislature has decided to make some changes in that to support a budget,” Malloy said. “A budget which has been negotiated, not the budget that I purposed on February 18th. I think those discussions will continue.”
Brennan says he hopes to meet with Malloy this week to discuss the tax situation.
Information from The Associated Press was used in this report.