Malloy looks to cut sales tax, eliminate exemptions

February 15, 2015

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HARTFORD, Conn. – Gov. Dannel P. Malloy called for lowering the state sales tax and scrapping certain exemptions during a Sunday morning television appearance. According to a spokesman, the change will boost revenues by $68 million next year.

During an interview on WFSB’s “Face the State,” Malloy said the budget proposal he unveils next week will include a two-step cut in the state sales tax. If approved by the legislature, the tax will drop from 6.35 percent to 6.2 percent in November. The rate would decrease to 5.95 the following year.

The sales tax “will be the lowest it’s been since 1971,” Malloy told Dennis House, the show’s host. “I think it’s a way to give some relief to the middle class, as the economy is improving. I’m proud to present this as a proposal to the legislature. My budget will assume this is happening.”

See the complete story at CT News Junkie.

Comments

2 responses to “Malloy looks to cut sales tax, eliminate exemptions”

Piberman

February 16, 2015

Why does Gov Malloy tackle low hanging fruit ? It’s the income tax that merits his attention. Why hasn’t he taken steps to reverse the historic tax hike ? He says the economy has recovered. He must like spending more than cutting taxes. To “help” the middle class. Makes sense.

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Concerned

February 16, 2015

Smoke and mirrors, folks. Giving with one hand, taking away with the other. Malloy is so far over his head in this office that it’s pathetic. CT is now LAST in the country in job growth – LAST. If this is his idea of making CT a more competitive and vibrant economy for big business and residents he really is out of his league as governor. Just as stupid as his recent move regarding liquor sales – great, just what we need more ‘competitive’ liquor prices – that’s sure to attract corporations, industry and productive residents to our state.

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