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. 

Paul Alexander November 16, 2012 at 06:23 PM
How do you go from a record $1.5 BILLION tax increase to a $2.5 BILLION (projected, but WILL most certainly be higher) DEFICIT in a two-year budget cycle??? AND promise not to raise taxes????????????? WTF!!!!!! This guy is DELUSIONAL and making campaign promises that the math says he will HAVE to break, at the last minute of course. He must think everyone in Connecticut is an idiot. This is completely insane. Why does anyone believe him? Why are you waiting to take action? Can’t you see the trend NOW??? WAKE UP! Impeach this moron. The math says that not only WILL he raise taxes, but it will HAVE to be ANOTHER record tax increase. And the REAL insanity is that Malloy thinks he should be reelected.
Thomas Crafts November 19, 2012 at 01:35 PM
Everybody in CT is stupid.
Paul Alexander November 19, 2012 at 02:23 PM
Now wait just a minute Thomas. How can people in such a highly edumacated state be stoopid? Connecticut is after all, if you listen to the people here, populated with brilliant minds. Deep thinkers. Well, they may be highly educated, but all they do is think and bloviate. No ACTION. I prefer to hire "C" students over the Dean's List idiots. The "C" students ACT and get s@*t done.


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