HARTFORD, Conn. (AP) — Gov. Dannel P. Malloy is set to announce a new state budget plan that would shift some education funding from wealthy to needy communities while making cities and towns pay more than $400 million a year in teacher pension costs that previously were shouldered by the state.
The Democratic governor is scheduled to unveil his two-year proposal Wednesday in a speech before the legislature.
The budget plan comes as the state faces a deficit of up to $1.7 billion for the year that begins July 1. The state’s main spending account is about $18 billion a year.
Malloy is calling for eliminating the $200 property tax credit for state income tax returns and making cities and towns pay a third of the $1.2 billion annual cost of teacher pensions.
Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.