Committees Approve Malloy’s Budget

Posted on April 22, 2011. Filed under: Uncategorized |

Gov. Malloy’s revised budget proposal took a few key steps toward becoming reality yesterday.

The budget passed both the finance and appropriations committees yesterday; both committees do have a Democratic majority. Before Malloy can sign the budget into law, it must go before the full House of Representatives and the full Senate.

Malloy chose to move forward with a number of tax increases, despite a “no-tax-increase” proposal offered by the Republicans earlier this week.

“Malloy compromised on details, but held firm on a key issue: The broad-based tax increases approved Thursday included a top income-tax rate substantially below Connecticut’s tri-state neighbors, New York and New Jersey,” The Connecticut Mirror reports.

You can read more details about the approved tax increases in the Hartford Courant. The spending cuts and labor concessions are less clear at this point in time.

Sounds like the Democrats and Republicans have some extremely different takes on this budget, that’s for sure!

Stay tuned for more details as the Senate and House tackle this budget.

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