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Capitol Insider Says Hartford Tax Deal Is Dead

By Jeff Cohen

May 09, 2012

Disclaimer: It’s early yet. The session still has just under three hours to go. Anything could still happen.

But I’m told by one — just one, so take it for what it’s worth — insider that the deal Hartford Mayor Pedro Segarra needs to balance his budget isn’t going to happen.

What happens if it fails? Then Segarra — whose budget gambled that the legislature would be on his side — has to find between $7 million and $9 million in next year’s budget by the end 0f the month. Not an easy task, when he’s already “found” $56 million to close the projected deficit.

He’s said the reduction could come by way of spending cuts and tax increases. And there are already grumblings on the city council that the current tax increases proposed by the mayor are too much.

Stay tuned