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Gov. Malloy Says No New Taxes Despite Deficit

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.

Steven DeVaux November 18, 2012 at 11:47 PM
He certainly has done enough damage to Connecticut ecomomy along with his cabal of cohorts. And they guaranteed the unions no layoffs for 5 years. Who's doing all this economic hiring. Not UBS in his hometown of Stamford. They are LAYING off 10,000.
Dr. Robin Appleby November 19, 2012 at 12:33 PM
So, after the Democrats raise taxes $ 1.8 billion, the largest increase in CT. history, the state budget will be billions of dollars in deficit ? Connecticut's pension funds are only 53 % funded...only Democrat Rhode Island is worse, having a $ 44.8 billion deficit (and the pensions LOST money this year).
mike murphy November 19, 2012 at 04:38 PM
like I said, put the toll booths back up! problem solved in less than 3 years max.
Steven DeVaux November 20, 2012 at 01:06 AM
Yes Robin, but then the legislature can push the teacher pension costs down to local boards of education to pay and say they kept their promise of no new taxes. Change you CAN believe in!
Alethiologist November 21, 2012 at 10:17 AM
Glad to see citizens with opinions are alive and well in Brookfield. The 'citizens' in Wilton are just a bunch of sheep accepting the status quo.

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