Malloy issues 2nd veto, says bill creates state revenue loss
HARTFORD, Conn. (AP) — Democratic Gov. Dannel P. Malloy has issued his second veto so far this year.
He nixed a bill Wednesday that would allow certain business owners to claim a tax credit against their personal income tax for hiring manufacturing apprentices. The credit is currently available for businesses that pay the corporate tax.
Malloy vetoed a similar bill last year. He says it would allow would result in a loss of $650,000 in revenue per year and potentially allow some business owners and shareholders to have no tax liability.
Malloy says he’s willing to work with lawmakers on alternative legislative that would help promote investment in small businesses.
Last week, Malloy vetoed legislation that prevented future governors from cutting state education aid to cities and towns in the middle of the year.