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Gov. Malloy Says No New Taxes

The state's budget deficit is now projected to top $1 billion but Gov. Dannel P. Malloy has vowed he won't hike taxes again to close the budget gap.

 

Despite a growing budget shortfall that is expected to hit $1.1 billion in the next fiscal year, Gov. Dannel P. Malloy is vowing that he won't increase taxes again. Malloy last year hiked state taxes by an historic $1.5 billion to help balance the state budget.

Combined with the current year's budget gap of $365 million and the additional shortfall of about $1 billion expected in the 2013-2014 fiscal year, Malloy and state lawmakers are facing deficits of more than $2.5 billion when they meet in early 2013 to craft a new two-year budget, according to the Connecticut Mirror.

Malloy, however, said this week that the shortfalls will not require additional tax hikes. In a press conference following the release of the new budget figures, Malloy said the state fiscal problems are the result of weak economic factors nationwide and that no new taxes would be needed to close the budget gap.

Jay November 16, 2012 at 05:47 PM
Probably will not both him - as soon as he establishes residency in D.C... Word is FBI is doing backgound check on our spendthrift ultimate local leader for a Washington post with his financial model in the White House. Who would have guessed.?
Phil Sengle November 17, 2012 at 03:19 PM
Malloy's promise of "no new taxes" is over a year too late. Boy he sure has changed his tune (he must have looked at his approval rating), but why should we believe him now? With the exception of Art Linares in the 33rd Senatorial District, we keep sending the same spend and tax Democrats to the State Legislature. It's a harsh judgement, but in the end "we (collectively) get the kind of government that we deserve".
Kevin Cowan November 18, 2012 at 03:57 AM
Things are going to get to get worse in CT. For one thing CT ranks as one of the most business unfriendly states in the union. Secondly MA has approved the licensing of 3 casinos which will certainly take away revenue from the CT casinos and the state. The problem is that we continue the re-elect the same democratic legislators who are owned by the state employee unions. Even if we elect a Republican govenor he or she will be screwed beacuse we keep re-electing the same people to the legislature. How will they balance the budget? Simple cut the only thing they can; aid to cities and towms mostly towns like Clinton. I see real estate taxes in the future.
VIN CIMINO November 19, 2012 at 03:04 PM
Now I hear that Bridgeport wants a $6 million grant for security cameras at their schools. I guess they want to get pictures of the guys that steal the cameras. WE CAN"T AFFORD THIS NONSENSE. We're looking at deficits of more than $2.5 billion! Are they out of their minds??
Victor Hugo January 03, 2013 at 04:07 AM
I believe the money Bridgeport is seeking is federal money granted from the Department of Homeland Security

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