On June 15th, 2018, The New England Council held a Congressional Roundtable with
Senator Chris Murphy hosted by NEC member State Street Global Advisors in Stamford, CT. Senator Murphy focused on the effects federal issues such as the lack of investment in infrastructure, student debt and international trade tariffs have had on Connecticut's economy. The Senator is pictured here (center left) with Jim Brett of the New England Council (left),
Paul Colonna (center right) and Jeevan Ramapriya (right) both of State Street.
In Senator Murphy's opening remarks, he discussed Connecticut's greatest strengths and assets. He noted that chief among these is the state's optimal location for transporting goods and for traveling to major cities such as Boston or New York City. Another strong point is their excellent workforce productivity due to the state's highly ranked education system. Lastly, he named "incumbent industries" such as insurance, defense manufacturing and financial services as Connecticut's greatest assets.
Despite these strengths, Senator Murphy expressed his concern for the effect of national policies such as the Federal budget will have on Connecticut. He believes the budget has hit states like Connecticut the hardest as it doesn't present any "investment in the strengths of Connecticut." His biggest concern is the lack of funding for infrastructure. Currently, the United States only spends about two percent of its GDP on infrastructure. He hopes for an increase in spending in order to "unlock economic development potential" in Connecticut.
The Senator then discussed his concern about student debt and the cost of higher education in his state. He revealed that many families can no longer afford to live in Connecticut due to high cost of living and huge amounts of debt acquired from getting a degree. He believes that efforts should be made to not only make it easier to obtain a loan but also to make college more affordable.
Senator Murphy proceeded to discuss the important role Connecticut plays in the manufacturing and distribution of defense supplies. The Senator believes that his state will be greatly hindered by the recent tariff increases imposed on many of our allies. He noted that over 50 percent of Connecticut's exports go to Canada and Europe, making these tariff increases detrimental to his state's economy.
Having represented the community of Newtown, CT, in the House of Representatives at the time of during the Sandy Hook shooting, Senator Murphy expressed his strong support for stricter gun laws. He believes the lack of safety in schools is hindering learning. Despite the rise in gun violence, he is optimistic that voter support for tighter gun control laws and universal background checks will convince members of Congress to make changes for the safety of this country.
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