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Malloy Mum On Future Tax Breaks

Ben Barnes, Malloy budget director.
Ben Barnes, Malloy budget director. (Hugh McQuaid photo.)

HARTFORD, Conn. –  Gov. Dannel P. Malloy said Wednesday that he hasn’t taken a position on several tax breaks he proposed last year, but which aren’t scheduled to go into effect next fiscal year.

When Malloy and the Democrat-controlled legislature finished last year’s budget they had included about $220 million in future tax breaks after declining revenue figures prevented them from being included in the 2015 pre-election budget. The tax breaks Malloy and lawmakers pushed into the future included an end to the corporation tax surcharge, sales tax exemption on clothing and over-the-counter medication, an income tax credit for retired teachers, and an increase in a tax credit for the working poor.

“I can only tell you we’re in the early stages of developing next year’s budget and we’re not intending to raise taxes,” Malloy said Wednesday after the state Bond Commission meeting.

“With respect to the surcharge I’ve not taken a position,” Malloy added. “With respect to other things I think we’ll be able to accommodate those and we’ll begin the process of implementing other steps as well.”

Read the entire story on CT News Junkie here.

Comments

2 responses to “Malloy Mum On Future Tax Breaks”

  1. John Hamlin

    Tax breaks? If you believe that, I have a walk bridge I can sell you.

  2. Piberman

    “…we’re not intending to raise taxes.” So now it’s official – higher taxes are headed our way.
    The Governor does indeed understand “how to play the game”.

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