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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. 

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