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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.

Robert Chambers November 17, 2012 at 02:37 PM
Don't believe it, he has no other options. Controlling spending is not in his bag of fiscal tricks.
Bob Cerani November 17, 2012 at 07:48 PM
Yeah, Right Mr. Malloy, You will need to tax the people of Connecticut again, because it is worse than you expected. But don't control spending and go ahead and bow down to the Unions. We all know you are not in the average people of Connecticuts corner.
No1stAmendment November 19, 2012 at 05:45 PM
This is not an honest person. He has lied about the deficit to get elected. Lied before November to get his cronies re-elected. Only $20K per CT resident added to $200K from N0bama. In plain English they are LIARS. http://www.nationalreview.com/articles/333519/connecticut-s-fiscal-mess-jillian-kay-melchior
Laura Dobosz November 19, 2012 at 07:33 PM
since when are people in unions not average citizens?

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