Cutting spending and closing some tax loopholes are just two ways Governor-elect Dan Malloy will reduce Connecticut‘s $3.8 billion budget deficit.
Malloy made those remarks this morning on MSNBC’s “The Daily Rundown.”
“We have about $5.5 billion in tax expenditures,” Malloy told MSNBC‘s Chuck Todd. “Things that we don’t tax because we think it does us some good.”
“A lot of these tax expenditures are as a result of a belief that it creates a job,“ Malloy said. “But as we look at these there’s no proof it creates a job.”
Newspapers and haircuts are two of the items Malloy mentioned on the show as being tax exempt.
“We’re going to take a serious look at what we’re not taxing or some of the larger loopholes that apply to wealthy corporations and wealthy individuals,” Malloy concluded.
The remarks didn’t sit well with former Gov. John G. Rowland who criticized Malloy for making the suggestion on his afternoon radio show.
Rowland said eliminating a tax exemption or creating one is taking money out of the hands of taxpayers.