With the $925 million surplus, Gov. Malloy could...
Where we stand ››
1. Add to property tax credit
Raise tax credit from $300 to $400 for 2013 return
2. Cut 6.35% sales tax
Restore sales tax to 6% starting July 1
3. Pay down deficit
Apply half the surplus ($462.5 million) to lower the deficit in each of the next 2 fiscal years
Why Malloy would consider it
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Remaining surplus
$925,000,000
Post-election deficits
$0M
$500M
$1 billion
$1.5 billion
2015-16
2016-17
Sources: Office of Fiscal Analysis, Fiscal Accountability Report, Nov. 15, 2013 and CT Tax Expenditure Report, January 2014;
Office of Fiscal Analysis, Office of Policy and Management, Consensus Revenue Estimates, Jan. 15, 2014;
Comptroller's monthly budget report, Jan. 2, 2014