.

Connecticut Defense Industry Watching for Potential Federal Cuts

As the so-called 'fiscal cliff' looms, defense contractors are waiting to see whether budget cuts could impact their industry.

 

With some $12.7 billion at stake, and an employee workforce of tens of thousands in Connecticut, defense contractors are warily awaiting Congress' action on the looming fiscal crisis. 

Industry leaders are worried about how negotiations to avoid the so-called "fiscal cliff" might affect defense spending in Connecticut, according to a report in the Hartford Courant.

Any changes in Connecticut defense funding is significant given the size of the industry here, experts say. Cuts to the industry, however, are included in the Budget Control Act of 2011, an agreement federal lawmakers forged to limit deficit spending. The act, and the cuts in it, will go into effect by year's end unless Congress reaches a new agreement.

At risk is a defense industry workforce in Connecticuct of 36,000 to 50,000 and about $860 million in defense-related taxes the state collects annually, the Courant reports.

Fred Young November 15, 2012 at 04:39 AM
Hate to say it, but if these spending appropriations are kept in place, how many will die around the world? CT is only worried for the selfish reason that the well paid defense employees might not be able to continue to support the welfare state of CT. CT lures non productive people from other states & nations with the promise of more "free stuff" than they were getting there, paid for by working folks who may be in the defense industry. Then, those poor folks want to protest to defense worker. Let these jobs go, let people live without these war machines, and send the freeloaders back home.
Thomas Johnson November 19, 2012 at 01:36 AM
Hear! Hear!

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »