No new taxes and other fairytales
by jonpelto
Late word is that Governor Malloy and Legislative Democrats have reached a budget “deal,” as the 2013 session of the Connecticut General Assembly heads toward its closing date next week.
Putting aside the controversy surrounding Connecticut’s faulty spending cap, the one claim that is being spun, above and beyond all others, is that the budget contains no new taxes.
Or, as Governor Malloy put it yesterday,
“The bottom line is we will not increase taxes or create any new taxes. The budget will be in balance and will be GAAP-compliant.”
Of course, none of that is true
Connecticut’s state budget is far from GAAP-complaint and some of the revenue
