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J Brendan Sharkey

State Budget Finalized; $178M In Proposed Tax Increases Rescinded

State Budget Finalized; $178M In Proposed Tax Increases Rescinded

HARTFORD — Gov. Dannel P. Malloy signed legislation Tuesday that establishes a two-year, $40 billion state budget and rescinds $178 million of the nearly $1.5 billion in tax increases the legislature approved on June 3. The budget package generated much criticism during its preparation, particularly from large corporations, and the final budget implementation bill adjusted several controversial business taxes that had been proposed. The legislature, called to a special session, approved the final bill in votes late Monday and early Tuesday. Malloy thanked top Democratic leaders for their work on the spending plan, which includes initial funding for Malloy's ambitious 30-year,...

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