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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.

L November 16, 2012 at 03:54 PM
Malloy, You raised taxes on us last year, 8-months-worth were retroactive, yet you were unable to balance the budget. Common sense would say that in addition to an increase in taxes should have been a cut in spending. Yet, you continued to spend tax payer money like you won the lottery. I have to balance my checkbook, why are you exempt from doing the same?
David November 17, 2012 at 02:34 AM
Typical Dem
David November 17, 2012 at 02:35 AM
Typical Dem
My 2 cents November 17, 2012 at 03:25 PM
Blame it on...Sandy, er...Irene, er...CL&P, er...companies moving out of state. Despite this, I've got things all under control. Now when does the next campaign for governor start? I need to get my political friends & the state employee unions motivated.

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