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Friday, December 07, 2012

Malloy Pitches More Cuts, Revenue to Shrink Deficit

By Keith M. Phaneuf and Arielle Levin Becker

www.ctmirror.org

Hours after inviting Republicans to help devise a bipartisan deficit-mitigation plan, Gov. Dannel P. Malloy today offered a “road map” to shave another $243 million off this year’s state budget deficit, again relying most heavily on cuts to social services.

The Democratic governor, who insisted that he wouldn’t raise taxes to close the current shortfall, is seeking over $22 million in additional tax revenue from corporations and power plants. The administration also says Connecticut can raise an extra $8.5 million by cracking down on tax fraud.

The proposal is intended to shape discussions scheduled to begin Monday with the administration and leaders of the Democratic majorities and Republican minorities in the General Assembly. The legislature is expected to return for a special session on Dec. 19 to vote on a deficit plan.

“We know what we have to do. They know what they have to do. We’ll share some information today,” Malloy said today, shortly before releasing his road map. “We’ll get to work next week.”

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