Malloy's tax rebate idea to be discussed
Hartford (AP) — Gov. Dannel P. Malloy's proposal to give Connecticut taxpayers a modest rebate is up for discussion before the General Assembly's tax-writing committee.
In his proposed budget for the fiscal year beginning July 1, the Democrat has suggested using $155 million of the state's estimated $505 million budget surplus to provide gas and sales tax refunds.
It would work out to $55 for individuals earning less than $200,000 and $110 to joint filers earning less than $400,000. Malloy's budget office estimates more than 2.7 million people would be eligible for rebates.
Other parts of Malloy's tax package will also be discussed Thursday during the Finance Revenue and Bonding Committee's public hearing, including exempting a portion of teachers' pensions form the personal income tax and exempting nonprescription drugs from the sales tax.
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