Even After Massive Tax Hikes, Dan Malloy’s Connecticut Still Can’t Cover Deficit

Even after imposing one of the highest per capita tax burdens in the United States on his citizens, failed Democrat governor Dan Malloy is still $267 million short on tax receipts to cover Connecticut’s deficit. This represents the latest chapter in Malloy’s long record of budgetary failures, which will be sure to put any potential Democrat successors in a tough spot come 2018.

The New Haven Register reports:

“…the Department of Revenue Services was reporting the state is about $267 million behind on revenues, or about 20 percent of what was estimated in the state budget.

The amount is enough to trigger a deficit mitigation plan for the current year and large enough to deplete the $235.6 million Rainy Day Fund.

‘We are tracking revenue very closely as we are in the middle of our highest collection period,’ Chris McClure, a spokesman for Malloy, said. ‘We will hold off from drawing any conclusions until later this week when we will have a clearer picture.’

The counting will continue, but by the end of the week the legislature’s Office of Fiscal Analysis and Gov. Dannel P. Malloy’s Office of Policy and Management will have to work together to agree on revenue numbers. At the moment the two offices are not in agreement on where revenues are at, especially those from the state income tax.”

With high profile business departures, sky high deficits, and unprecedented economic migration away from the state, Dan Malloy is leaving Connecticut weakened economically and starving for competent leadership. While Democrats running to replace him in 2018 will try to run from Malloy’s catastrophic policies, Connecticut voters have watched them enable his agenda for almost eight years and will hold them responsible at the ballot box.