The opposing sides in the state tax debate each tried to grab center stage Monday as Gov. Dannel P. Malloy and Democratic legislative leaders kicked off what many expect to be their most contentious round of budget negotiations yet.
corporation tax
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State tax debate: Whose plan really helps the middle class?
As the development of the next state budget enters its final stage this week, the main players in this drama might be further apart than at any previous time during Gov. Dannel P. Malloy’s administration.
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A shorthand breakdown of the new state tax proposal
It’s easy to get lost in the numbers of the new revenue plan a legislative panel recommended Wednesday for the next two-year state budget. For those keeping score at home, here’s a rundown of the major points of the Finance, Revenue and Bonding Committee’s plan.
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Malloy scorns both parties’ legislative budget plans
OLD SAYBROOK — Gov. Dannel P. Malloy dismissed Democratic and GOP revisions to his budget proposal as political posturing Thursday, setting a chilly tone as the administration and General Assembly begin to negotiate a compromise budget.
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Sales tax may take center stage in state budget debate
Leaders of the legislature’s tax-writing panel have made it no secret they hope to minimize new taxes on Connecticut corporations this year as politicians and business leaders alike hope for the economy’s best year since the Great Recession ended. But one key alternative the Finance, Revenue and Bonding Committee is expected to recommend this week involves a major overhaul of Connecticut’s sales tax – a move the state’s chief business lobby warns could damage the economy worse if handled improperly.
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Malloy plan pumps up tax receipts by more than $800 million
Gov. Dannel P. Malloy’s two-year budget plan raises more than $360 million in net new tax receipts over the biennium, while canceling or delaying more than $480 million in net tax cuts that he signed last term and promised to start after the election.
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Will Malloy’s new budget add up to a tax increase?
Gov. Dannel P. Malloy, in Middletown Monday, pitched his sales tax plan as middle-class relief, but he withheld details that would show whether his new budget would increase state taxes overall.
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Malloy may use extra time to reset CT’s budget expectations
With two extra weeks before his next budget is due, Gov. Dannel P. Malloy may use that time to reset legislators’ expectations rather than to check his math or fine-tune any proposals.
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Malloy: Tax breaks likely for consumers, teachers, poor — maybe not business
Despite the likelihood of deep spending cuts in Gov. Dannel P. Malloy’s next budget, the prospects of tax relief for consumers, retired teachers and the working poor are good. But for Connecticut’s businesses – not so much.
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Budget chief: Some tax cuts may have to wait; CT colleges likely to face cuts
Gov. Dannel P. Malloy’s budget director acknowledged Monday there’s little likelihood all of the tax relief promised on the campaign trail can be provided in the next state budget, which faces a major deficit projection. And while the governor promised new tax relief for college graduates struggling with student loan debt, budget director Benjamin Barnes said Connecticut’s public colleges and universities probably won’t be spared emergency budget cuts due out this week.
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Foley has lots of confidence, few details, on plans to fix CT budget
To say Tom Foley is keeping his cards close when it comes to his plans to fix state finances might be an understatement. The Greenwich businessman and Republican gubernatorial contender’s positions on key income and business taxes and public-sector wages are guarded at best.
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GOP relies on Malloy ‘gimmick’ to balance its budget plan
Faced with shrinking state tax receipts, minority Republican legislators Thursday grudgingly used one of the largest “gimmicks” they had chastised Gov. Dannel P. Malloy for in their latest budget proposal.