Results 1 to 5 of 5

Thread: After masive tax increases in 2017, CT Gov. looking to increase taxes again

  1. #1

    Thumbs down After masive tax increases in 2017, CT Gov. looking to increase taxes again

    Sales tax increase back on the table as Malloy offers deficit mitigation plan
    by Marc E. Fitch | Dec 13, 2017

    Governor Malloy is proposing 6 new state tax increases in Connecticut. You can't make this insane nonsense up!

    Gov. Dannel Malloy released a plan Wednesday to close a $208 million state deficit this year by offering a combination of cuts to social service programs and tax increases on cigarettes, hotels, and the state sales tax.

    In his press release, the governor acknowledged that the options he presented “will be almost universally objectionable, and that there is little appetite among you or your members for making such adjustments to your budget.”

    “I agree these changes are difficult and that in better economic times, with a balanced budget, none of us would put them on the table for consideration,” Malloy said. “However, I have a clear statutory obligation to provide you with a plan to mitigate the deficit.”

    Malloy’s plan results in $189 million in revenue increases, coupled with $113 in spending cuts. The package of cuts and tax increases is $100 million more than the deficit requires. Malloy says this will help the legislature revise some of its cuts to the Medicare Savings Program.

    One of the largest revenue generators in Malloy’s plan comes from raising the state sales tax to 6.9 percent, which is estimated to generate $81 million in 2018. Increasing the sales tax was a major part of Democrats’ budget plans during the 2017 session, but was ultimately left out of the bipartisan budget.

    Malloy also included raising the hotel tax to 17 percent; increasing the restaurant tax to 7 percent; raising the tax on cigarettes again by another 25 cents; a 75 percent excise tax on e-cigarettes and an increase to the real estate conveyance tax — something that realtors have lobbied strongly against.
    Lifetime member of more than 1 national gun organization and the New Hampshire Liberty Alliance. Part of Young Americans for Liberty and Campaign for Liberty. Free State Project participant and multi-year Free Talk Live AMPlifier.

  2. Remove this section of ads by registering.
  3. #2
    Higher hotel taxes /prices probably hurts tourism which means less tax collected from those types of business . Actually reading it , it is all horrible . They should just cut the amount they are short .

  4. #3
    I have not even heard of a restaurant tax .

  5. #4
    WTH is real estate conveyance tax ?

  6. #5
    I do not ever travel that far east anymore , for anything . If I did I would scratch it off my list .

Similar Threads

  1. Replies: 8
    Last Post: 06-22-2017, 10:52 AM
  2. Replies: 3
    Last Post: 06-07-2017, 08:57 AM
  3. 5 States to Avoid Because Taxes Are Going Up in 2017
    By Keith and stuff in forum Open Discussion
    Replies: 0
    Last Post: 01-17-2017, 01:51 PM
  4. Replies: 8
    Last Post: 07-16-2010, 08:43 PM
  5. New Taxes, Tax Increases in Healthcare Law
    By FrankRep in forum Economy & Markets
    Replies: 4
    Last Post: 03-30-2010, 07:11 AM

Select a tag for more discussion on that topic

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts