House and Senate Republicans rolled out a new budget proposal Thursday that does not raise taxes and provides essential services and funding to cities and towns.

House Republican Leader Larry Cafero, R-Norwalk and Senate Republican Leader John McKinney, R-Fairfield, explained their “real world budget” plan at a press conference at the Legislative Office Building that received intensive attention from the state media.

This is the third no-tax increase budget offered by the Republican caucuses. The new also calls for additional $446 million in budget cuts. 

“Families and businesses have all had to cut back. The state of Connecticut has to as well, or future deficits will be enormous,” said Cafero, “This is a better way for our budget. We have kept our promises.” 

The Republicans proposed new revenue streams similar to those proposed by Democrats and Gov. M. Jodi Rell, including:

• $75 million tax amnesty program.
• $70 million in state asset sales such as unused property.
• Securitization of state assets for $125 million.
• $50 million in additional debt collection.
• $10 million for cell towers on state buildings.

Republicans propose a total of $1.5 billion in agency reductions, while focusing on waste and fraud.

“We don’t believe sustaining this kind of spending is not good for our state,” said State Rep. Craig Minor, R-Litchfield. “This is balanced.”

Minor noted that over the last 20 years, state spending has risen 278 percent while the population has increased by six percent.

Cafero said 70,000 jobs have been lost in Connecticut since January with personal bankruptcy up 49 percent over the last quarter from a year ago.

He added that 26,000 businesses have closed over the last two years with 7,000 shutting their doors over the last nine months alone.

“What is the Democrat’s answer to our fiscal crisis? – more spending and more taxes,” said State Rep. Vincent Candelora, R-North Haven. “They claim they are reinvented government, but it is more of the same.”

Cafero said Gov. Rell has made the best of bad situation.

“I respect the Governor’s leadership, she has done everything she can to put people above politics,” said Cafero. “We will negotiate in good faith.”