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Sat Jan 7, 2017, 07:20 AM

Malloy: Spending Cuts Likely, Tax Increases Not Ruled Out

Gov. Dannel P. Malloy said Friday that he is not "leading" with tax increases to close the state budget deficit, but he also refused to rule them out.

Despite being asked multiple times, Malloy declined to take taxes off the table to bridge the projected $1.4 billion gap for the fiscal year that starts in July. Two days after his State of the State Address, he met with reporters for 45 minutes in his state Capitol office on a range of topics that often circled back to fiscal issues.

"I'm not leading with taxes," Malloy told reporters. "I don't take them off the table, but I think you can tell from my speech that that's absolutely not what I'm leading with. So let's be very clear about that. What will be in that budget or what will not be in the budget has yet to be finalized, and won't be finalized for probably four weeks at a minimum."

He added, "I don't think we should have revenue-driven discussions. I think we should have spending-driven discussions."

Read more: http://www.courant.com/politics/hc-malloy-budget-preparations-20170106-story.html

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