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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.

Luigi (the original) November 16, 2012 at 05:44 PM
No NEW TAXES? ....... We are choking on taxes already. How about some spend restraints?
Richard Poulton November 16, 2012 at 06:37 PM
Now everyone remember, the state is not running a deficit. A new word into the political language dictionary is ""short fall". So we can no longer use the term deficit. I feel so much better knowing that all is well with just a short fall killing us, driving all into the poor house.
Mitch November 16, 2012 at 07:45 PM
The Governor has NOT vowed that he won't raise taxes. His statement was actually "I have no intention of raising taxes". Big difference. But what do you expect from a spend-first, find the money-second governor and legislature??
Donna November 16, 2012 at 08:11 PM
People are leaving Connecticut. With each tax hike we have more residents and businesses moving out of Connecticut. Everyone that can't move just ends up paying higher taxes. Don't they get it.

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