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Malloy Proposes Reducing Conn. Sales Tax

Plans to bring the tax down to 5.95 %

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Stamford, CT | Added on February 17, 2015 At 10:00 PM

Governor Dannel Malloy announced Monday his plan to lower Connecticut's sales tax from 6.35% to 5.95%, the lowest its been since 1971. Malloy plans to cut the sales tax in two phases, by first lowering it to 6.2% in November, and then to the 5.95% in April. The plan includes eliminating certain exemptions to make the lower rate possible.

The cut is expected to save consumers $70 million in fiscal year 2016, according to the Governor's office. Malloy will present his biennial budget proposal to the General Assembly Wednesday afternoon, with more details on the plan. 

For more information, visit  http://www.governor.ct.gov/malloy/cwp/view.asp?Q=560830&A=4010

 

 


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