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Stemerman: Malloy Administration on Spending Binge as Overtime Costs Skyrocket

July 25, 2018

“The numbers from our state overtime budget show a Malloy Administration on a spending binge”


STAMFORD CT – Republican Gubernatorial candidate David Stemerman, a political outsider and businessman, reacted to the news from the Office of Fiscal Analysis that state overtime spending ballooned by 12% in Fiscal Year 2018:

“Every day it seems the numbers get graver for Connecticut residents who will have to live with the mess Dan Malloy created, and it’s a reminder what a 3rd Malloy Administration would look like under Ned Lamont.  The numbers from our state overtime budget show a Malloy Administration on a spending binge in its last year – courtesy of the taxpayer,” said Stemerman. “Worse, this $228 million in overtime pay inflates our long-term pension liabilities due to sweetheart deals cut with state labor union bosses – some of whom serve in Democratic leadership in Hartford even as our state approaches a fiscal cliff.”

 “These figures underscore the need for an outsider and a business-man like myself, who understands what it means to handle other people’s money and actually be held accountable for results, to take the reigns in Hartford. Our next Governor must do the opposite of Dan Malloy, and that is exactly how I intend to govern,” Stemerman continued.

“The voters deserve to know exactly how their next Governor will get them out of the mess that Dan Malloy has created, and only my campaign has offered credible details on how we can Save Connecticut,” Stemerman concluded.

BACKGROUND: David and his wife have been proud to raise their five children in Connecticut where he started his own business, Conatus Capital, ten years ago, and built it from a single desk to a multi-billion dollar business. He understands wh­at causes businesses to succeed and fail, what works and what doesn’t. And most importantly, he knows what it takes to grow jobs and wages, and has a track record of delivering results.

Stemerman was at the Capital last week laying out an ambitious agenda to eliminate conflicts of interest that have rigged our elections and legislative process, and to give control of government back to the people. He has been recognized by the Hartford Courant as “alone among the candidates” – of either party – to lay out specific and credible plans to save Connecticut from a looming financial crisis. Stemerman’s plans will build on Connecticut’s former strengths to turn around the moving vans and grow our economy for families and job-creators.

He is also the only candidate in either party to provide a detailed plan to cut taxes for all residents and employers to make our state affordable and competitive so we can keep and attract jobs and families.  Stemerman proposes cutting taxes by $3 billion a year, including reducing the state’s seven income tax brackets to three at 0%/4%/5%, eliminating the death, gift and entity taxes and cutting the corporate tax rate to 5%.  His plan pays for these tax cuts by cost savings and eliminating special deals and exemptions in the tax code.

Lastly, Stemerman is also the only candidate in either party to propose a detailed plan to rebuild and upgrade Connecticut’s failing transportation infrastructure.  He proposes attracting billions of dollars of private investment to upgrade Connecticut’s roads, trains and airports, including adding lanes to our major highways, getting the train from New York City to Stamford in 30 minutes, Bridgeport in 45 minutes and New Haven in 60 minutes and developing a major regional airport in Southern Connecticut.

Other candidates offer vague promises to balance the budget, cut taxes and spending and grow jobs.  Only Stemerman proposes a credible plan that will deliver results for the people of Connecticut.


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