Malloy proposes tax refund to residents

Gov. Dannel Malloy announces proposal to provide tax refunds to Connecticut residents, Jan. 30, 2014. (WTNH / Mark Davis).

HARTFORD, Conn. (WTNH) — Governor Malloy has announced his plan for the state’s half billion dollar budget surplus, he wants to send you a check.

“I think it’s a great idea. I have two kids and my husband and I are tough and struggling so I think it’d be great to have it back to us,” said Karen O’Neil, Stratford.

Karen is talking about Governor Malloy’s plan to give tax refunds to just about every state taxpayer. His plan would mean a check for $55 to every individual filer that makes under $200,000 a year and a check for $110 to every joint filer that makes under $400,000 a year, and he wants to do it sometime in the next few months.

“I’m proposing a refund because that’s the best way to give immediate relief to taxpayers and by the way…to pump $150 to $155 million into the economy,” said Gov. Dannel Malloy,(D) Connecticut.

And by calling it a refund on the state sales tax and a refund on the state gasoline tax, it would not be subject to federal income taxes. In other words, everyone would keep the entire amount.

“I think it might be a good idea, unless maybe next year or the year after they decide to raise taxes again,” said Dave Monahan, Monroe.

Malloy says he will ask the legislature to craft a law so that at least part of any future surpluses will always go to some form of tax relief.

“I would save it and put it in a savings account for my children, I have a four and a five year old that’s going to be going to college in the next ten years so I need money for that,” said Greg Melton, Hamden.

Malloy’s plan also saves part of the surplus by putting $250 million of it in the state’s ‘Rainy Day Fund’ in case there’s another recession and $100 million towards state pension obligations.

One Republican leader at the Capitol is calling the tax refund proposal a “gimmick.”

It’s a gimmick that was done before back in 1998 and 1999 by then Republican Governor John Rowland.

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