By Keith M. Phaneuf
UPDATE Gov. Dannel P. Malloy today unveiled a nearly $40 billion, two-year budget that boosts tax receipts $830 million despite a sales tax cut, preserves municipal aid and cuts deeply into social services and higher education.
Gov. Dannel P. Malloy outlines his budget proposal today. (CLICK TO ENLARGE) Alvin Chang/Ctmirror.org photo
The governor’s plan also outlines a major transportation initiative, but does not recommend how to pay for it. But the administration’s projections show it would require $112 million in new transportation revenues by 2018 and $400 million above current revenues by 2020.
And while the transportation initiative is billed as a $100 billion investment over 30 years, only about $5.1 billion extra would be spent on projects over the governor’s four-year term.
Malloy also would close one unnamed state prison and redirect a portion of the savings to his “Second Chance Society” plan, an initiative to reduce criminal recidivism and assist youth at risk of becoming offenders.
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