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. Continue Reading →