Budget chief: Some tax cuts may have to wait; CT colleges likely to face cuts
Gov. Dannel P. Malloy’s budget director acknowledged Monday there’s little likelihood all of the tax relief promised on the campaign trail can be provided in the next state budget, which faces a major deficit projection.
But Office of Policy and Management Secretary Benjamin Barnes quickly added he believes those tax breaks, worth roughly $260 million, can be provided over the next four years.
And while the governor promised new tax relief for college graduates struggling with student loan debt, Barnes said Connecticut’s public colleges and universities probably won’t be spared from emergency budget cuts due out this week.
Connecticut’s community colleges, the regional Connecticut State Universities system, and the University of Connecticut all ordered double-digit increases in tuition and fees over the course of Malloy’s last term in response to major cuts in state assistance.Read More