Even with a 2015 $1.5 billion tax increase, Connecticut has a projected budget deficit of $5 billion over the next two years. The prospect of massive statewide cuts in education funding and municipal aid have become a very real possibility. Additionally, as a result of the budget crisis, public unions were asked to agree to $1.6 billion in contract concessions.
At the same time, Bridgeport, Connecticut’s largest city, has been forced to raise its mill rate by 29 percent. Bridgeport’s political, civic, and business leaders have been working to reduce its unemployment rate from 7.3%, which is significantly higher than the unemployment rates of both the state and the nation.