RIDGEFIELD, Conn. (AP) — Another company has criticized tax increases proposed by Gov. Dannel P. Malloy and the Democratic-run legislature, saying the state budget plan could force a halt to investments in Connecticut.
Boehringer Ingelheim Pharmaceuticals Inc. said Tuesday the “short-sighted tax proposals will stifle innovation,” particularly in medical research and development. The company, based in Germany, said the proposed budget “will undermine the financial feasibility of continued capital investments” at its Ridgefield-Danbury site.
General Electric Co., Aetna Inc. and the Travelers Companies Inc. criticized the tax-and-spending proposal on Monday. GE and Aetna questioned whether businesses and individuals should stay in Connecticut if proposed business taxes become law.
Malloy says part of the increased revenue is for needed transportation upgrades that would make Connecticut more competitive.
Legislative leaders were revising the budget and delayed a vote.
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