Did you see Plan C?

Posted on May 31, 2011. Filed under: Uncategorized |

In the 11th hour before Memorial Day weekend, Gov. Dannel Malloy released his plan to fill the $400 million hole in the budget.

True to his word, Malloy did not add any new taxes and left municipal aid intact.

In a move widely criticized by the Republican segment of the legislature, however, Malloy relied heavily on the surplus he’s previously indicated does not exist.

Plan C involves roughly $319 million in surplus revenue and $81 million in new savings; this includes a “re-estimation of the state’s contribution requirements for retiree health care – an annual savings of $25 million to $27 million.”

The union voting on the proposed concessions may go past June 8, which is the scheduled end of the legislative session.

What do you think, CPAs?



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