HARTFORD, Conn. (AP) – Gov. Dannel P. Malloy says Connecticut’s economy is doing “pretty darn well,” even though it’s unlikely his proposed $55-per-person refund checks will show up in taxpayers’ mailboxes.
In a letter sent Monday to members of the General Assembly, Malloy’s budget director said the Democratic administration does not “anticipate enough revenue to provide a tax refund or to make a supplemental pension payment, as we had hoped in January.”
Benjamin Barnes said state tax revenues are meeting expectations except taxes on capital gains, which are “hundreds of millions below expectations” — shrinking a projected surplus.
House Minority Leader Lawrence Cafero Jr., who called the rebate checks “an election-year gimmick,” said the revenue shortfall shows the state’s economy is not doing well as the Malloy administration and the legislature’s majority Democrats have predicted.