corporation tax

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There’s a near deal — but it’s not bipartisan — on state budget deficit

Gov. Dannel P. Malloy and his fellow Democrats in the legislature’s majority said Thursday they believe they had reached the essence of a deal to mitigate state budget deficits and offer modest tax relief to businesses. Malloy announced he would call the General Assembly into special session on Tuesday in the hopes of adopting the package. Continue Reading →

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Deadlines nearing for state budget talks, GE decision on a move

State budget talks made little progress Wednesday but will continue for at least one more day as legislators from both sides conceded a self-imposed deadline is nearly upon them. Gov. Dannel P. Malloy also hopes to extract new business tax relief from these talks and confirmed he continues to talk with General Electric in hopes of keeping the major corporation in Connecticut. Continue Reading →

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Popular proposal for tax reform: Roll back recent increases

A public hearing on how to reform Connecticut’s tax system evolved Wednesday — at least in part — into a critique of the $1.3 billion tax hike built into the two-year state budget legislators and Gov. Dannel P. Malloy approved earlier this summer. Continue Reading →

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Retired teachers buck CT budget trend and get a tax cut

What separates retired Connecticut teachers from the working poor, middle-income consumers, corporations and insurance companies? In the context of the new state budget, it’s the ability to get a tax break. Continue Reading →

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Malloy says there is ‘consensus’ on tax hike rollbacks

One day after House Democratic leaders said they had just began to discuss Gov. Dannel P. Malloy’s last-minute budget proposals, the governor declared Wednesday there already is a “consensus” agreement to roll back two controversial tax hikes. Continue Reading →

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House Dems still searching for response to Malloy’s budget changes

Leaders of the House Democratic majority were optimistic Tuesday they could resolve the new state budget next week, but couldn’t say what changes — if any — might be made. House Democrats met for more than three hours behind closed doors to discuss last-minute revisions sought by Gov. Dannel P. Malloy as well as any legislators might want to make. Continue Reading →

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Malloy seeks to roll back $220M in business tax hikes

Gov. Dannel P. Malloy proposed Friday to roll back about $220 million in business tax hikes before they take effect in the new two-year state budget July 1 and replace them with still-to-be-identified spending cuts. Legislative leaders offered no ready endorsement, saying they will review the plan. Continue Reading →

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