WATCH LIVE: Governor Malloy’s Budget Address
HARTFORD, Conn. (AP) — Connecticut Gov. Dannel P. Malloy is set to release the final details of his new two-year state budget.
The Democrat has already warned that “it’s not going to be an easy budget.” The new fiscal year beginning July 1 is predicted to be about $1 billion in deficit. The following budget year is also facing a projected $1 billion deficit.
Malloy already released some details of his plan, including a proposal to lower the overall sales tax rate but eliminate some exceptions. Republicans are critical of his idea to eliminate the sales tax exemption on up to $50 of clothing.
Malloy is also expected to unveil more details of his plan to overhaul Connecticut’s transportation system over the next 30 years.
He addresses the General Assembly at noon on Wednesday.
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