Gov. Malloy on His Budget Plan: 'No New Taxes'

The governor has to work with the state's General Assembly this session on how to plug a $2 billion hole in the Connecticut budget.

Gov. Dannel P. Malloy is pledging that Connecticut taxpayers will see no new taxes in the budget deficit plan he is crafting.

Malloy is facing a $2 billion state budget shortfall when the new fiscal year begins July 1 and is expected to release his new budget on Wednesday, Feb. 6, according to the Hartford Courant. 

"There's no new taxes in this budget,'' the Courant quotes Malloy from a press conference the governor held Friday. "I've said that. I told you that months ago, and none of you believed me. There's enough pain to go around in this budget..."

Many in the state are bracing for the cuts that could come as a result of his budget proposal. While Malloy after his election in 2010 quickly gained the trust of local leaders because of his friendly overtures toward smaller communities and their needs, town leaders now are worried that his cuts could come at the expense of local programs and aid.

Malloy's budget dilemma comes after, and despite of, the largest state tax increase in state history — some $1.5 billion in new revenues — that the governor proposed and the state legislature passed in 2011.

LiveForFreedom February 05, 2013 at 10:37 PM
In order to fix the $500 Million Dollar deficit last year and the looming $1.5 Billion Dollar deficit in 2013, Dan Malloy must increase revenues or reduce spending. State Workers and Teachers Union givebacks - don't count on the unions to give anything back in 2013. Sales Tax - don't expect Malloy or the Democrats to raise this again. Income Tax - If they raise the state income tax it will be on high wage earners. Gas tax - don't expect Malloy or the Democrats to raise this again. Medicaid cuts - expect to see the limits of what will be covered to shrink. The state of Connecticut hopes that the federal government will pick up the cuts with Obamacare. Earned Income Credit - do not not expect to see this go away. Luxury tax - possible to see an tax on expensive cars, boats and vacation homes. Internet Sales tax on Amazon - Malloy has succeeded to tax Amazon purchases. Highway tolls - this is highly probable and may be a new tax.


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