Hartford Business Journal

16 Hartford Business Journal • October 8, 2018 • www.HartfordBusiness.com By Matt Pilon mpilon@hartfordbusiness.com A s a wealthy entrepreneur who built and ran a tele- com business for about three decades, Democratic gubernatorial candidate Edward "Ned" Lamont Jr. says he has a deep understanding of the needs and desires of Connecticut companies. More than anything — even tax cuts, which he has promised in modest measure — Lamont's pro-business agenda includes helping train the next generation of workers, improving transportation infrastructure and get- ting the state's fiscal house in order. Businesses, he said, want a budget that is "on time, reliable, predictable and takes uncertainty off the table." While Lamont said his door will be open to hear private-sector concerns, the self-proclaimed progressive can- didate also has strong feelings about labor, social issues and corporate re- sponsibility, favoring some policies that could irk the business community. The Greenwich resident, 64, who ran unsuccessfully for the U.S. Sen- ate in 2006 and governor in 2010 (a race in which he was primaried by Gov. Dannel P. Malloy), has sought to balance those aspects of his identity in debates, speeches and interviews, including a recent sit-down with the Hartford Business Journal. "I think I can cross those lines in a way that other people can't," Lamont said of his experience, political beliefs and management style. Despite a $4 billion-plus budget deficit projected for the next two fiscal years, which amounts to more than 10 percent of the $40 billion biennial bud- get, Lamont said he won't raise any of the state's major levies, including the personal and corporate income taxes and the sales tax. That's despite a comment he made to the Hartford Courant in January, saying it was his "hunch" that higher taxes on the wealthy would be "part of the solution." Republican opponent Bob Stefanowski has pounced on some of Lamont's tax-related statements, charging that he's trying to conceal his true intentions. Lamont said he's pledging more than $400 million in tax relief for property owners and businesses in his first two- year budget that would be released in early 2019. That includes increasing the property tax credit for homeowners, axing the business entity tax, reducing the capital stock tax, and exempting certain smaller companies from the lo- cal personal property tax. He deems the latter three to be nuisance taxes that send the wrong message. His promised tax cuts are much smaller than those offered up by Ste- fanowski, who said he will eliminate the personal income tax entirely over time. Lamont argues eliminating that roughly $10 billion revenue source would devastate education and trans- portation, and force municipalities to implement steep property-tax hikes. "I'm not promising you a unicorn," Lamont said. "But I'm telling you I'm listening." He also supports highway tolling of out-of-state trucks, which could be legally untenable, depending on the outcome of an ongoing federal lawsuit in Rhode Island. Lamont said he's confident he would be able to honor his tax-relief prom- ises, despite the red ink that awaits. To be clear, neither Lamont nor any other candidate has given a precise ac- counting of how they'll close the deficit in their first budget, but Lamont said he would target the state's healthcare plan, a major annual cost, for savings. Edward "Ned" Lamont Jr. Party: Democrat Most recent job: Adjunct professor, political science and philosophy, CCSU Other past significant jobs: Founder/CEO/Chairman, Lamont Digital Systems Age: 64 Town of residence: Greenwich College education: Bachelor's degree, Harvard; MBA, Yale Running mate: Susan Bysiewicz Governor's Race 2018 Progressive Democratic businessman Lamont seeks tradeoffs with CT employers In his campaign for governor, Democrat Ned Lamont has emphasized his management style, mixture of business and progressive sensibilities, and promise of modest tax relief for residents and companies. HBJ PHOTOS | STEVE LASCHEVER

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