Taxes
Conn. Democrats Say $3.5 Billion In Cuts Possible
The Associated Press
06/19/09 - 09:40 AM EDT
HARTFORD, Conn. (AP) Legislative Democrats in Connecticut say they've come up with $3.5 billion in spending cuts, enough to save a popular tax credit program for property owners and stop a proposed increase in business sales taxes.
But Gov. M. Jodi Rell, a Republican, is skeptical of the claim. She's criticizing Democrats for not providing any details of their proposed cuts and says the public should know which taxes they plan to raise.
Rell and Democrats who hold a majority in the Legislature have been at odds over how to cover the deficit for the next two years, projected to be as high as $8.7 billion. Rell and fellow Republicans don't believe taxes should be raised to balance the budget. But many Democrats say the wealthy should pay more.