Wednesday, March 13, 2019
Jim Smith and Robert Patricelli will speak about the Connecticut Commission on Fiscal Stability and Economic Growth
(FSEG). Connecticut’s revenues are not keeping pace with spending commitments. Our population has not grown since 1990, and private sector jobs are fewer today than a decade ago due to the high cost of doing business here and unfriendly tax climate, aging infrastructure and transportation issues. The new administration is faced with a $2 billion deficit due to overspending in the past and pension shortfall in state employee and teacher pension funds. What new taxes and belt tightening the committee will eventually recommend will evolve over the next months. Jim is chairman of the Board of Webster Financial Corporation and, until recently, served as vice chairman of the Midsize Banks Coalition of America. He served as a member of the Federal Advisory Council, which advises the deliberations of the Federal Reserve Board of Governors, and served on the Board of Directors of the Federal Reserve Bank of Boston. He is actively engaged in community service and supports numerous civic organizations. Bob has spent more than 50 years in leadership roles in the health care industry and in public service. His business life began in health care in 1987 at Connecticut General Corporation and its successor Cigna Corporation. In 1997, he left Cigna to begin a 20-year career as an entrepreneur, founding several companies. His public service started fresh out of law school as a White House Fellow, followed by numerous roles in Washington, D.C., and Hartford. Bob most recently served as co-chair of the FSEG, appointed by Gov. Malloy in 2017. He has served on the Board of Directors for five organizations. He grew up in Hartford, attended Wesleyan University and Harvard Law School, and was a Fulbright Scholar at the University of Paris. Arranged by John Schlachtenhaufen
Video of their presentation: https://youtu.be/xosAOE0dDtA
Bob Patricelli’s slides: https://dariendma.org/wp-content/uploads/Patricelli-Lamont-Budget-Comments-Final-030819.pdf
Jim Smith’s slides: https://dariendma.org/wp-content/uploads/PACT-Slides-for-JSmithv1-ch-6-for-03-13-2019-without-notes.pdf
Homework that will help get the most from the speakers:
Lamont’s Budget presentation.
https://dariendma.org//wp-content/uploads/Gov-Lamont-FY20-FY21-Budget-Presentation-2-20-19.pdf
https://ct-n.com/ondemand.asp?ID=16045
Fiscal Stability Commission Report 2.0