Car Dealers Warn Malloy
Car dealers from across Connecticut are warning Gov. Dannel P. Malloy that his proposed tax changes affecting auto sales will lead to hundreds of job losses at their dealerships.
Malloy, who met Thursday with the Connecticut Automotive Retailers Association, said he’s willing to hear their specific concerns but reminded the dealers about how he’s trying to take a balanced approach to fixing the state’s budget. Connecticut is facing a projected $3.5 billion deficit for the new fiscal year beginning July 1.
Malloy has proposed a two-year, nearly $40 billion budget that raises taxes by $1.5 billion in the first year. He has called for a new three percent luxury tax on items over $50,000, including cars, and taxing the trade-in value of a car used as a down payment.
(Copyright 2011 by The Associated Press. All Rights Reserved.)