Sign Up

For the latest Connecticut news, straight to your inbox.

Malloy Comes Out Against Tax Cuts in National GOP Plan

November 2, 2017 By Staff
Malloy Comes Out Against Tax Cuts in National GOP Plan

Not content enough with high taxes in his state, Dan Malloy is blasting a GOP proposal to offer broad tax cuts to American families and businesses.

Mere hours after the House GOP released its tax cut plan from Washington, D.C., Gov. Dan Malloy (D-Conn.) blasted the plan.

“As we begin to review the partisan tax plan from President Trump and Congressional Republicans, one thing already is obvious: this proposal, drafted in secret, would stick it to middle-class Americans in order to pay for massive tax cuts for only the wealthiest one percent,” Malloy said, in a press release. “The fact is, this proposal will raise taxes for significant portion of Connecticut residents, likely leading to cuts in state and local services, and cost the country over $1.5 trillion. It is a prime example of what it means to be ‘penny-wise and pound foolish’ and should be rejected by reasonable members of Congress.”

GOP leaders like Speaker Paul Ryan assert the plan will cut taxes for the average American family of four by $1,182 per year.

According to a GOP outline obtained by reporters, the GOP plan would:

  • Collapse the current seven federal income tax brackets into five: 0%, 12%, 25%, 35%, and 39.6% (for high-earners)
  • Double the standard deduction, to $12,00 for individuals and $24,000 for married couples
  • Expand the Child Tax Credit from $1,000 to $1,600
  • Continue to allow taxpayers to write off state and local property taxes, up to $10,000

Malloy appears content with his constituents continuing to pay high taxes.