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Posted inMoney, Politics

Malloy offers modest tax breaks for retired CT teachers, consumers

Gov. Dannel P. Malloy proposed a second round of tax cuts Friday, including a new income tax break for retired teachers that could provide a strategic edge in his re-election bid.

The governor also backed a sales tax exemption for non-prescription medications, an insurance premium break for cities and towns, extending a credit for business investors and a two-day state park fee holiday.

These breaks, worth about $52 million in the fiscal year that begins July 1, would be in addition to the $155 million sales and gasoline tax rebate Malloy unveiled Thursday.

Posted inMoney, Politics

Malloy learns from Rowland’s slip on 1998 CT tax rebate

Gov. Dannel P. Malloy apparently has learned from former Gov. John G. Rowland’s mistake.

By proposing to rebate sales and gasoline taxes – instead of income taxes – Malloy would spare nearly all recipients from having to share about 30 percent of their bonus with the federal government. Rowland made that mistake in 1998 when he and the General Assembly launched the first tax rebate program in state history.

Posted inMoney, Politics

Was faulty CT tax mailing a huge privacy violation?

House Minority Leader Lawrence F. Cafero, R-Norwalk Could 27,000 Connecticut residents’ Social Security numbers have been mailed – along with their names and addresses – to households other than their own? A top Republican lawmaker demanded answers Monday after reviewing one of the thousands of faulty tax forms the state Labor Department acknowledged sending out […]

Posted inMoney, Politics

Republicans propose ‘honest’ tax cuts for Connecticut

House Republicans have proposed $247 million in consumer and business tax cuts – moves they insist won’t worsen the big budget deficit projected for next year. In a press conference Thursday, GOP lawmakers said they want to give small businesses a one-time break on their unemployment assessments, accelerate the return of a sales tax exemption on clothing, and restore another exemption for over-the-counter medicine.