McKinney: “Will the Real Dan Malloy Please Stand Up?”

January 31, 2014

State Senate Minority Leader John McKinney (R-Fairfield) made the following comments today in response to a press conference held by Governor Malloy:

“Will the real Dan Malloy please stand up?

“During the last three years as governor, while not running for reelection, Governor Malloy raised taxes, punished teachers and retirees, and saw deficits everywhere. Now, in an election year, he proposes tax cuts, panders to teachers and sees surpluses even in the face of a $2 billion deficit. Maybe we should have elections every year?”

“As I said yesterday, working families, small businesses and our economy in general need tax relief and that tax relief should be significant and permanent. But, it is the height of hypocrisy for a governor who imposed a record $2.6 billion tax hike three years ago to celebrate a tax relief proposal that gives back just $114 million. It is as if he took a $20 bill from you yesterday, gave you a $1 bill today (of borrowed money) and expected you to thank him for it!

“Three years ago, Governor Malloy rejected Republican ideas and instead chose to raise the income tax, the sales tax, the property tax and the gas tax, to name a few. Today, nearly 40 percent of Connecticut residents are on the brink of financial calamity, homeless shelters are overflowing, and families and businesses are struggling to pay their bills. That is shameful. That represents a failure in leadership. Clearly, the governor has taken us down the wrong road. Now, with his re-election at stake in November, Governor Malloy says he suddenly wants to cut taxes?

Senator McKinney said it is disingenuous for the governor to claim that his proposal cuts taxes by $450 million because $155 million of his package is the result of a one-time election year rebate and another $171 million (restoring the EITC to 30% in FY16; and restoring the sales tax exemption on clothing and footwear under $50) was already scheduled to take effect under current law.

“Exempting 50% of retired teachers’ pensions from the income tax, extending the angel investor tax credit, eliminating the sales tax on non-prescription drugs, and providing some relief for self-insured municipalities are all laudable goals that I have supported. But, collectively they still do not provide the level of permanent relief taxpayers and our economy need, and they cannot be accomplished without making spending cuts elsewhere in state government.

“The governor’s revenue and spending projections continue to defy reality. The fact is, Connecticut faces a $2 billion deficit in FY15 and FY16 and we need to deal with it by making spending reductions now. We need to look for ways to both cut taxes and reduce spending to address our out-year deficits.”