April 1, 2014

GOV. MALLOY STATEMENT ON COMMITTEE APPROVAL OF PROPOSED STATE REVENUE CHANGES

(HARTFORD, CT) - Governor Dannel P. Malloy released the following statement in response to the Finance, Revenue and Bonding Committee's approval this afternoon of his proposed state revenue changes:

"I want to thank co-chairs Senator Fonfara and Representative Widlitz, as well as their colleagues on the Finance, Revenue and Bonding Committee for passing Senate Bill 28 out of their committee this afternoon.

"Earlier today, Comptroller Lembo certified that Connecticut is on track to end the fiscal year with a surplus of more than $500 million. When I proposed my budget, I laid out my plan for using that surplus in a responsible way. I said we should first put the lion's share into our rainy day fund, we should pay down our long-term debt, and we should give something back to Connecticut taxpayers in the form of a sales and gas tax refund. After all, if Connecticut taxpayers are asked to share in the sacrifice during tough times, they should also share in the state's continuing economic recovery.

"The bill the committee passed today takes us a big step towards that goal. It also benefits municipalities by exempting them from the insurance premium tax on health plans. It restores the sales tax exemption on non-prescription drugs. And, it begins a phase in of exempting a portion of teachers' pensions from the income tax.

"Again, I want to thank the co-chairs for their hard work and cooperation, and I look forward to working with them and other legislative leaders to finalize a budget that continues to move Connecticut forward."

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For Immediate Release: April 1, 2014

Facebook: Office of Governor Dannel P. Malloy