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McKinney to Malloy: Scrap The $55 Refund

by Christine Stuart | Apr 23, 2014 8:53pm
(5) Comments | Commenting has expired
Posted to: Election 2014, State Budget, Taxes, State Capitol

CTNJ file photo

Sen. John McKinney and Gov. Dannel P. Malloy

Republican Senate Minority Leader John McKinney, who is also running for governor, used a memo that shows income tax receipts lagging as a reason the scrap the $55 tax refund.

In this memo OFA says revenue collections are nearly $204.6 million or 16.7 percent below target. That means the state still needs to collect $612 million before April 30 if it’s going to end the 2014 fiscal year with a surplus of more than $500 million.

Courtesy of the Office of Fiscal Analysis

Democratic Gov. Dannel P. Malloy and the legislature’s Democratic majority planned to use the $155 million to give about 2.7 million taxpayers a $55 check in the months leading up to the November election.

“A $55 rebate in lieu of permanent and meaningful tax cuts is an insult to taxpayers that should never have been proposed in the first place,” McKinney said. “A $55 rebate isn’t even enough money to fill up most gas tanks, and certainly not enough to fill a tank in Connecticut where our gas taxes are among the highest in the nation.”

The governor’s spokesman said that McKinney needs to “stop rooting for failure.”

“Governor Malloy’s proposal to issue a refund to taxpayers is part of an overall effort that will put money in the rainy day fund, pay down our long-term obligations, and provide some necessary tax relief for residents,” Doba said in a statement. “If Senator McKinney was so concerned with gimmicks, he wouldn’t have put out a Republican ‘budget’ that included a $120 million dollar tax increase on working families and $54.8 million in phantom, unspecified cuts that are not detailed anywhere.”

The consensus revenue estimates, which will an accurate depiction of where the states revenues are at, will be released by April 30. It’s those numbers that will be used to finalize the budget adjustments.

The General Assembly adjourns on May 7.

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(5) Comments

posted by: Noteworthy | April 23, 2014  9:17pm

If McKinney needs to quit rooting for failure, Malloy and his alter ego, Doba should quit practicing witchcraft on the state budget and trying to caste a spell on taxpayers with a silly $55 check - which by the way, will cost us, the taxpayers $1.5 million to send out. This should be considered an illegal campaign contribution.

posted by: PWS2003 | April 23, 2014  9:36pm

Did I read that more than 60 per cent of voters view this $55 as a gimmick? Malloy seems to like gimmicks.

posted by: bill88w | April 23, 2014  11:30pm

Option 1: Keep the money and fix the darn roads.

Option 2: Give me the money and I’ll give it to GOP governor’s campaign.

posted by: DrHunterSThompson | April 24, 2014  12:09am

DrHunterSThompson

give me the money, i’ll twist one up and go on a road trip!

HST

posted by: NoNonsense2014 | April 24, 2014  10:00am

Announcing a “tax rebate” long before you know whether there will even be a “surplus” to fund it = counting chickens before they hatch. Have they never heard that saying before? And yes, it’s a gimmick and nothing more.