Perhaps fearful of Aetna picking up and leaving Connecticut, Gov. Dannel P. Malloy has announced he is proposing a tax cut on insurance premiums, as part of his state budget. The plan would cut the tax rate on insurance premiums from 1.75 percent to 1.5 percent. In his press release, the governor explained “lowering this tax rate will continue the state’s efforts to improve the business climate for insurers located across Connecticut.”
Expect a daily dose of Malloy budget proposals, leading up to his budget address to a joint session of the General Assembly on Feb. 8. Malloy has become famous following this blueprint, to maximize television exposure on a daily basis.