Stamford’s own Michael Fedele, Lieutenant Governor of Connecticut, is scheduled to share his views on the Wall Street crisis and its impact on Connecticut with Fox Business News’ “Happy Hour” tomorrow (Sept. 18) at 5 p.m.
According to Fedele’s office, he’ll be interviewed by “Happy Hour” guest hosts Cody Willard and Rebecca Gomez.
Fedele should have plenty to talk about. As The Advocate reported today, about 45 percent of the state’s income tax comes from the pockets of Fairfield County residents, about 39,000 of whom hold financial services positions in the region, including jobs on Wall Street. Signficant layoffs of those Wall Street workers who live in southwestern Connecticut could eat into anticipated tax revenues, growing the state’s current, $150 million budget deficit.
“It’s bound to have a negative impact at some point – folks who live in Fairfield County who may have worked for Lehman Brothers, for example, who’ve been laid off,” Jeffrey Beckham, a spokesman for the state budget office, said.
Republican Gov. M. Jodi Rell tapped Fedele as her running mate in 2006 partly for his business experience. Fedele founded the Pinnacle Group computer consulting firm and the administration often calls upon his expertise and contacts within the business community.
