Tom Foley on Budget & Economy

Tax credits are spending; oppose $400M job expansion credits

"Raising taxes is leadership? That's how you would lead as governor?" Foley said. McKinney supported a bill that allowed United Technologies Corp. to use $400 million in unused tax credits in exchange for guarantees that the company would expand and hire more workers. Foley opposes the deal and says the package increases state spending. "John is using career-politician talk. He is saying tax credits are OK," Foley said. "Tax credits are spending."

"Tom, it's not spending not to tax someone," McKinney said. "Now you are talking like a Democrat."

AdWatch: Malloy's policies drive jobs out of state

Foley said he was trying to have some fun making a serious point about Connecticut's economic competitiveness under Malloy. The governor always is quick to note that this state's tax rate is attractive compared to NY and NJ, but Foley said it could be a lot better. "I was just trying to make the point that while Gov. Malloy and his policies are driving jobs and young people out of the state, here you have a neighboring city where the same thing is about to happen," Foley said.