Press Releases
08/23/2018
Gov. Malloy Statement on Proposed Trump Administration Regulations Regarding State and Local Tax Credits
(HARTFORD, CT) – Governor Dannel P. Malloy released the following statement regarding proposed regulations announced today by the U.S. Department of the Treasury and the Internal Revenue Service regarding state and local tax credits:
“The Republican tax law is an affront to middle class Connecticut families and a massive giveaway to the wealthiest individuals and largest corporations, and the guidance issued by the Trump administration today only makes it worse. We already know that eighty-three percent of the benefits from this law go to the top one percent, while taxes actually increase for many middle class Connecticut families – at the same time it causes our federal deficit to explode by $1.5 trillion. Now, Treasury is attempting to take away the ability of states like Connecticut to mitigate the harmful effects of the law. We will assess our options as we work to protect Connecticut taxpayers.”
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