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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 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.

Ex Republican February 04, 2013 at 06:18 PM
"Read my lips."
Robin Hood February 05, 2013 at 01:48 PM
The problem is Corporate Welfare. A very few large corporations take over 5 billion from Ct taxpayers every year, they are large and established and do not need these subsidies and deferrements, they use them to buy other corporations and pad CEO compensation. That 5 billion does not not include the hundreds of millions they get through the clean energy funds or ARRA. By eliminating that loss and using half of the money to balance the budget and the other half to help small businesses and start ups and increasing the money the clean energy funds spend on them and consumers this state would not only turn around it be the best economy in the nation. If you don't believe me about the over 5 billion (I had calculated on my own 2 billion) here's the report from Ct's Comptroller. http://www.osc.ct.gov/openCT/taxbreaks.html
Robin Hood February 05, 2013 at 02:15 PM
You should wonder why politicians never talk about Corporate Welfare when talking about budgets and deficits. It would be like you ignoring your mortgage payment when you look at your budget, it's still there, it's a major part of the spending process. Of course your mortgage doesn't promise you millions in re-election campain money though. Nope, all they talk about is cuts to services, fewer roads plowed, less money to towns and cities which means our local taxes go up on people and small businesses. It wouldn't be so bad if there was some return on these "investments", because that is what they call them, investments in CIGNA, UTC, GE, Bridgewater, the Busway but where is the return for the taxpayers?? Aren't you supposed to realize a return on your investment? Oh they create jobs?, they employ a lot of people? sorry to dissapoint but they don't, all of these corporations are still laying off. This just doesn't add up as a good investment. http://www.nytimes.com/2012/12/02/us/how-local-taxpayers-bankroll-corporations.html?pagewanted=all&_r=0
David Cassenti February 05, 2013 at 03:27 PM
"No NEW taxes," he says. Just like in the ads he ran running for governor, he said that he was for the people of the state, and that Foley would hurt us by cutting spending... "No new taxes," from good old, "Don't-Call-Me-Dan" Malloy means that he won't introduce any taxes that aren't already there. Stuff like a STATE property tax on computers...it doesn't mean that he won't INCREASE taxes tat are already established. Politicians like to craft their words to be VERY specific about what they are saying. Is it any wonder that people don't trust him and what he says? It's like when he said that the state needs to be like anyone else and "live within its means," and then asked to borrow $500 million here, $1.54 billion to upgrade UConn, $400+ million to create new state departments. If I did that while "living within (my) means," I would be filing for bankruptcy within a MONTH!
David Cassenti February 05, 2013 at 03:30 PM
<sarcasm>But, isn't Malloy's reasoning for this corporate welfare that the jobs WILL BE created (within 10 years)...</sarcasm>
Ex-Democrat February 05, 2013 at 06:35 PM
It just came out that amazon is going to start collecting sales tax for all transactions in connecticut. When malloy said no new taxes he was correct. Thats because hes actually going to give us more of the old taxes. Please tell me i am not the only person going mental over the outright dishonesty of this guy. Remember this is the same guy who told the legislature to hide how horribly bad the state finances are from the public until after the election so it wouldnt hurt the chances of his buddies running for office. You know like mr meyer who wants to ban everyones deer guns?
Robin Hood February 05, 2013 at 09:08 PM
Just as long as we agree that he is doing exactly what, Weicker, Rowland, Rell, did, because he is, just extended, you can only raise taxes, raise Corporate Welfare, and cut services for so long and something has to give, we're at Break Point. After Weicker instituted the income and raised taxes (lowered the sales but increased it's scope) this state was awash in money, we had Corporate Welfare out the yingyang, rainy day funds and surpluses and we wouldn't have even noticed the money Rowland was shoveling out the back door if it wasn't for a federal investigation. Trouble is now revenues are down as they were when Weicker took office thanks to O'Neil, but the raises were already made then, Malloy just doubled them, if they had not gone with such a greedy Corporate Welfare set up and cut our taxes when the books balanced it wouldn't be such an issue now. Our income tax was supposed to have a sunset. 5 billion plus a year to existing large corporations that can afford 28 million a year to their top personnel is rediculous, shameful, cold, and callous. Especially while children starve.

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