Malloy: $450 million in tax relief to be provided to CT families

Malloy

Governor Dannel Malloy announced Friday that nearly $450 million in tax relief will be provided for Connecticut families.

Malloy called this cut “modest tax relief.”

The two-year plan gives some tax cuts in teachers’ pensions, the tax on insurance premiums, and a two-day free holiday for the state parks.

He calls it a modest first step towards sustainable tax relief.

“We’re ready to begin the long hard work of reforming our tax structure. It’s my belief that as our economy continues to improve, this should be just the first step,” Malloy said. “In the years ahead, there is not a single tax on the books that should not be scrutinized, reviewed and reduced wherever possible.”

Thursday the governor announced that most taxpayers will be getting a $55 refund out of the state’s current surplus. He said that the extra money will go toward boosting the rainy day fund and paying down the state’s long-term debt.

 

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