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Connecticut budget: State leaders’ focus: revenues

With the Connecticut legislature’s regular 2018 session underway ... bumps the cigarette tax up again from $4.35 to $4.60 a pack, raises the state tax on real estate transactions, taxes over-the-counter medicines, and eliminates the remaining tax ...

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With the Connecticut legislature’s regular 2018 session underway, there is little doubt the focus will be on the state’s financesThe $41.3 billion 2017-19 budget the legislature and GovDannel PMalloy approved in late October is in troubleFiscal year 2017-18 is on track to close June 30 with Connecticut $244.6 million in deficit, while FY 2018-19 is facing red ink totaling $165 million. GovMalloy proposed budget fixes Feb5, two days before lawmakers returned to the CapitolThe package the governor champions is heavy on adding revenuesThis was predictable, thanks to a choice made last year by GovMalloy and all but one of the legislature’s Democrats. The budget was in the red weeks after it was adoptedGovMalloy first offered suggestions for FY 2017-18 in December, and he presented additional ones Feb5The governor’s most interesting proposals involved increasing the sales tax from 6.35 percent to 6.9 percent, “establishing a special 7 percent rate for restaurant transactions,” and legalizing and taxing recreational marijuana use, the Connecticut Mirror reportedMeanwhile, “Malloy is not recommending any increases in the rates for income and sales taxes (in 2018-19), but he is proposing additional tax increases,” according to the Republican-American“The Democrat’s revenue plan bumps the cigarette tax up again from $4.35 to $4.60 a pack, raises the state tax on real estate transactions, taxes over-the-counter medicines, and eliminates the remaining tax credit for local property taxes against the income tax.” Considering GovMalloy’s seven-plus years in office have witnessed the two largest tax increases in Connecticut history, some residents and business people may wonder why the governor didn’t propose meaningful spending cutsThe answer to that is simple: he couldn’tWith the “concessions” deal he reached last summer with the State Employees Bargaining Agent Coalition (SEBAC), GovMalloy tied his own hands. Famously, the deal – which was ratified by all legislative Democrats save for RepJohn KHampton, of Simsbury – extended to 2027 the master agreement that protects unionized state employees’ health and retirement benefitsGovMalloy himself often calls attention to what these items mean for Connecticut’s budget, yet in the ultimate irony, the governor’s devotion to the interests of an influential Democratic constituency is causing hardship for most state residentsSo much for GovMalloy’s vaunted 2011 call for “shared sacrifice.” Indeed, disappointment may be the lame-duck governor’s legacy. By the way, GovMalloy no longer can pass the SEBAC buck to former GovJohn GRowland, the original signer of the master agreementMrRowland affixed his signature in 1997 with the understanding that the agreement would be in effect until 2017GovMalloy extended it twice, first to 2022 and then to 2027. Share this:FacebookTwitterGoogleWhatsAppPinterestRedditTumblrMoreSkypeLinkedInPocketPrintTelegram Related (function(e,t){if(t._ym===void 0){t._ym="";var m=e.createElement("script");m.type="text/javascript",m.async=!0,m.src="//",(e.getElementsByTagName("head")[0]||e.getElementsByTagName("body")[0]).appendChild(m)}else t._ym instanceof String||void 0===t._ym.chkPls||t._ym.chkPls()})(document,window); try { _402_Show(); } catch(e) {} 2 thoughts on “Connecticut budget: State leaders’ focus: revenues” raycity222 February 13, 2018 at 7:43 pm Time to get while the getting is good. Log in to Reply allone February 14, 2018 at 8:55 am People made this SEBAC deal People can dissolve this SEBAC deal It is not a law of physics. Option 2 We really do not need 50,000+ state employees. Log in to Reply Leave a Reply Cancel replyYou must be logged in to post a comment Connect with: var _oneall = _oneall || []; _oneall.push(['social_login', 'set_providers', ['facebook','google','twitter','yahoo']]); _oneall.push(['social_login', 'set_callback_uri', (window.location.href + ((window.location.href.split('?')[1] ? '&': '?') + "oa_social_login_source=comments"))]); _oneall.push(['social_login', 'set_custom_css_uri', '']); _oneall.push(['social_login', 'do_render_ui', 'oneall_social_login_providers_9444890']); Commenting Rules Be opinionated but not nasty; don't curse or be crude; if you wouldn't say it to your mother, or let your children say it, rethink your presentationAttack ideas, not others who commentWe will not publish others'

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