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Our leaders tell us we can lead a worldwide war on terrorism, get new prescription drug benefits and still receive a record tax cut.
They say it reflects the degree to which Mr. Malloy has failed to live up to his promise two years ago that a record tax increase would put Connecticut on a path to fiscal sustainability.
The budget would still offer city residents and businesses $1.1 billion in new tax cuts during the next three years, which Mr. Giuliani said yesterday represented a record tax cut when combined with already adopted tax reductions during his administration.
Less than two years after Gov. Dannel P. Malloy pushed through a record tax increase for Connecticut as part of a package to reduce one of the nation's worst budget deficits, the state on Wednesday announced $170 million in spending reductions as the first step to address what officials described as a large and growing long-term budget shortfall.
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The state charges a recording tax on new mortgage debt.
Though he needs to spend much more on infrastructure, Lula has squandered a chunk of record tax revenues on padding the public payroll.An oil gusher could also sharpen Brazil's already voracious appetite for the politics of the pork barrel.
With a booming economy and record tax receipts, fiscal prudence is fairly easy.
"Nothing is certain in life, but death and taxes, which bodes well for the nation's largest tax preparation company H&R Block, which delivered a record setting tax season," wrote value adviser John Buckingham of Laguna Beach, Calif.-based Al Frank Asset Management in a July 7 missive to his Prudent Speculator newsletter subscribers.
Republican Gov. Scott Walker signed the tax-break bill for Foxconn in September, breaking a record for tax credits to a foreign company.
HARTFORD — Connecticut legislators on Monday passed a two-year, $37.6 billion budget that includes a large expansion of gambling and reflects the degree to which Connecticut faces continuing financial budget distress despite passing a record $1.5 billion tax increase in 2011.
Following the defeat of Teaneck's budget, which called for a record 10.2 percent tax increase, the district eliminated 45 teaching positions and four administrative positions as part of a $6.1 million reduction.
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