McKinney Walker Plan - Putting Connecticut Taxpayers First Eliminates Income Tax for Middle Income Workers

Recently, our neighboring state of Connecticut gubernatorial candidate John McKinney (R) released his proposed fiscal plan to balance the fiscal 2016 budget, reduce spending by $1.4 billion, phase out the 10 percent business surcharge tax, and eliminate the income tax for filers under $75,000 in fiscal 2017.

Candidate for Governor, Senator John McKinney and Lt. Governor Candidate, Former U.S. Comptroller General Dave Walker unveiled their plan to put Connecticut taxpayers first.

“When elected, we will introduce a budget plan that balances without new taxes or borrowing by making real spending reductions,” said Senator McKinney. “We believe that Connecticut taxpayers deserve a better deal.”

The McKinney-Walker proposed plan will:

• Reduce the FY2016 budget with $1.4 billion in spending reductions and nonew taxes or new borrowing.
• Balance the FY2016 budget to guarantee the clothing and footwear sales tax exemption and the phase-out of the 10% business surcharge tax.
• Eliminate the income tax for filers under $75,000 in FY2017.

Governor Malloy added $3 billion in new state spending, raided trust funds, increased borrowing, and imposed the single biggest tax hike in Connecticut history.

“He has no more tricks up his sleeve. With a stagnant economy and a sweetheart deal with union bosses, he simply can’t solve the problem,” said Dave Walker. Sen. McKinney remarked - Tom Foley claims he can solve the problem by flatfunding and dodges questions about how this would work by saying he “just
won’t let anything go up.”

John McKinney (L) & David Walker (R)

“His approach doesn’t even exist in reality. Tom’s either hiding some plan or doesn’t understand the budget. Either way - his approach lacks the candor and honesty that are needed to solve the problem. Connecticut residents are anxious about the future and want major change,” added Sen. McKinney.

The McKinney Walker Team, believe in addition to giving Connecticut taxpayers a better deal, the state’s business and industry leaders deserve a stable fiscal and economic environment. Walker said, “When the state’s fiscal house is in order businesses will have stability and taxpayers will have relief.”

“We believe that state government has an obligation to provide both,” added Sen. McKinney.

To read more about the plan please visit www.McKinneyforGovernor.com