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. 

QWERTY November 17, 2012 at 02:18 AM
I hate this guy. He makes a deal with unions for concessions in return for no layoffs. Not only did those concessions NOT fill the gap but now the state can't lay off workers! I'm sorry but this guy is such an idiot.
Designated Hitter November 17, 2012 at 04:02 PM
Seriously Dannel??? You raised taxes by $1.5 BILLION last year to balance the budget. And the shortfall is expected to grow to $2.5 BILLION??? We've had "weak economic factors" for a few years now, this is not a new driver of the deficit trend!! And you promise not to raise taxes. What is the plan Dannel??? Let's be honest!
Geezer November 18, 2012 at 04:04 PM
classic short timer move - this guy is expecting a presidential appointment
Alex November 19, 2012 at 01:58 PM
Very disappointing. That extra revenue was meant to close the gap, not widening it. The revenue side of the issue has been resolved, now fix the spending side.
Jimmy Pursey November 19, 2012 at 09:19 PM
Aw, you DO miss Bush, don't you Donny? (The dry drunk one who increased the size of our government more than any President in history I mean...not the Dad who had a long-term affair with Jennifer Fitzgerald...)


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