Hartford Business Journal

28 Hartford Business Journal • September 26, 2016 www.HartfordBusiness.com OPINION & COMMENTARY EDITORIAL Election year tax-cut proposals should draw voter skepticism E lection-year politics often bring about grandiose promises from candidates look- ing to win office and this year is no different. In recent weeks, state Democrats and Republicans have outlined their legisla- tive agendas ahead of the Nov. 8 elections, with both parties pitching a series of tax cuts aimed at winning the favor of a populace that has been hit in the last six years with the two largest tax increases in state history. Voters should be skeptical. It's not that we don't support cutting taxes — surely it would be a better way to spur private-sector investment than continuing the tax-and- spend policies to which our legislature has become accustomed. But if the state is going to achieve any modicum of fiscal stability over the next few years, tax cuts must be secondary to spending reforms and reductions. With the state projected to be facing billion-dollar deficits in the next two fiscal years, lawmakers first must figure out how to make ends meet without raising taxes again, never mind thinking about ways to cut state revenue streams. While the various tax-cut proposals represent good ideas that would make it more affordable to live and operate in Connecticut, they can't be taken seriously unless law- makers pair them with a clear plan to balance the budget. So far, we haven't seen any convincing blueprints to make that happen from either party. Among the proposals being bandied about is an increase in the property tax credit from $200 to $500 for individuals and families making less than $100,000. That Senate GOP proposal would cost the state $24.9 million in tax revenues per year over six years. Republicans also want to eliminate taxes on pension income under $100,000, which would cost the state $17.2 million per year. Meantime, Democrats last week unveiled a series of tax-cut proposals including a measure to exempt new college graduates and social-security benefits from the income tax and making student-loan debt tax deductible. The good news is that both Democrats and Republicans seem to be taking a pro- business stance heading into Election Day, with pledges not to raise taxes, an unsur- prising stance they must be held accountable for over the next few years. Democrats, also unsurprisingly, are much more upbeat about the state's prospects. As the majority party in the Senate and House, they have a higher risk of being ousted during a change election in which only 24 percent of the electorate approves the work being done by the General Assembly. With all 187 House and Senate seats up for grabs, power in both chambers is within the grasp of either party, but voters are more likely to be swayed by honest plans to restructure state spending habits than by tax cuts that seem unlikely to happen in the face of mounting red ink. Taxpayers are looking for some form of predictability from state government, as evidenced by a recent Connecticut Business & Industry Association survey, which found that businesses have a strong lack of confidence in state government, despite experiencing the highest levels of profitability in a decade. The 331 businesses that were surveyed said the best way to restore confidence is through fiscal stability and predictability. The party that pitches the most likely plan to make either happen stands the best chance to win at the ballot box this November. n OTHER VOICES Why our students need to embrace STEM now By Bob Sobolewski T he talent pipeline for science, technol- ogy and advanced manufacturing jobs in the United States needs an enormous boost of interested kids — and fast. By 2018, we may be short as many as 3 million high-skilled workers, according to a study released by the National Math+Science Initia- tive, which examines the crisis of STEM (science, technology, engineering, math) education in America. Our competitive edge as a nation has sharply eroded over the last decade. Unfortunately, I wit- nessed this firsthand as CEO of a multina- tional manufactur- ing company. If you are looking to fill jobs, you under- stand the challenges associated with find- ing well-trained and prepared talent from the pool of candi- dates available today in the U.S. Simple tasks such as finding a CNC machine oper- ator, trained welders, or properly educated mechanical engineers have become difficult. And that's despite the fact that all of these can be lucrative and fulfill- ing careers for the right people. I have often wondered why one of the most powerful and innovative nations in the world ranks so low in the quality of math and sci- ence education. The World Economic Forum ranks the U.S. 48th in those fields of study by the way. How did we allow this to happen? As a nation, we need to continue to aug- ment our education system with experiential learning and teambuilding activities outside the classroom. This is why I decided to step up and do my part in changing how we edu- cate our kids. IngenuityNE Inc. is a not-for- profit public charity born out of my desire to help support research and STEM-focused programs here in New England. Honestly, I got tired of reading about kids not interested in STEM. Our kids here are smart. They just need to realize the many life lessons they can be exposed to while build- ing competitive robots and constructing proj- ects with LEGOs. We aligned with FIRST, one of the leading sources of STEM inspiration and competitive fun for young people, to form the New Eng- land District made up of Connecticut, Rhode Island, Maine, Massachusetts New Hamp- shire and Vermont. Founded in 1989, FIRST entices our future workforce with mentor-based, research and robotics programs so they can witness first- hand the benefits of science and technology careers. The FIRST program had more than 400,000 youth participants in 2015-16, with more than 200,000 mentors, coaches, judges and volunteers in 80-plus countries. The impact of FIRST has been astounding, according to a 10-year analysis of its evalua- tion data led by Brandeis University. Not only are FIRST participants more likely to major in science or engineering fields, they also gained significant 21st century work-life skills criti- cal for their future success in the workforce: • 98 percent improved problem-solving skills; • 95 percent increased time manage- ment skills; • 93 percent increased conflict resolu- tion skills; • 76 percent strengthened communica- tion skills. So how can you get involved in this movement toward enriching much need- ed STEM education? The first step is awareness and com- munication. We need to openly talk about the STEM crisis in our nation and be willing to do some- thing about it. Real change will occur out of necessity to keep growing and properly educating the talent pool for the future. Business leaders and companies can: • Financially sup- port scholarships for NE FIRST students; • Sponsor regional competitions through- out Connecticut and New England; • Provide guidance and mentorship to stu- dents in grades K-12; • Donate supplies and materials for the competitions; • Create STEM advocates among your workforce; • Encourage schools across New Eng- land to become involved with STEM- focused programs. We can't allow this STEM crisis to con- tinue to escalate, especially here in Con- necticut. We need to offer engaging, fun and inspiring opportunities so our future leaders can follow a path that builds a stronger, more vibrant economy and rebuilds our competi- tive edge as a state and a nation. The time is absolutely now. Are you up to the challenge? To learn more about FIRST in New Eng- land, visit nefirst.org. To learn more about the FIRST interna- tional efforts, visit firstinspires.org. n Bob Sobolewski is a 30-year business veteran who headed up the U.S. division of the multi- national manufacturer, ebm-papst Inc., before retiring and starting a change-management consulting business. Sobolewski is chair of the CBIA board of directors and in 2012 founded ingenuityNE, a not-for-profit public charity to create interest and excitement in STEM (science, technology, engineering and math) among K-12 students in New England. HARTFORDBUSINESS.COM POLL Is Sikorsky's proposed $220M state financial aid package a good deal for CT? ● Yes ● No To vote, go online to HartfordBusiness.com. Last week's poll results: Should municipalities be allowed to levy taxes beyond the property tax? 27.8% Yes 72.2% No Bob Sobolewski ▶ ▶ Simple tasks such as finding a CNC machine operator, trained welders, or properly educated mechanical engineers have become difficult. And that's despite the fact that all of these can be lucrative and fulfilling careers for the right people.

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