Return Savings To The Taxpayers

To the Editor:

Moody’s recently upgraded Newtown’s bond rating from Aa2 to Aa1.

According to Newtown’s Finance Director Robert Tait, this change has already saved local taxpayers in excess of $1.2 million.

If this is true, let’s use this $1.2 million reduce the newly proposed 2.44 percent tax increase. Otherwise, who knows what will happen to these savings?

By applying this $1.2 million to the revenue side of the budget, the requested tax increase would drop from 2.44 percent to 1.25 percent.

One would think that this would be a reasonable tax increase that nearly all of Newtown’s residents could agree to.

Phil Dinielli

9 Copper Creek Circle, Newtown                                       May 4, 2010