property tax credit

Recent Posts

Democrats modify tax proposals, but business unimpressed

Joseph F. Brennan, president of the Connecticut Business and Industry Association

Democratic legislators are using a two-stage, 50-cent increase in cigarette taxes to lessen — but not to eliminate — controversial income and data processing tax hikes, with the goal of passing a $40.3 billion, two-year state budget plan on Tuesday. The state’s chief business lobby quickly decried the changes as woefully inadequate. Continue Reading →

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New budget includes $200 million income tax hit on middle class

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A last-minute component of the new two-year state budget deal includes a $100 million-per-year income tax hike on Connecticut’s middle class, according to budget documents released early Monday. The hit comes in the form of a reduced credit for local property tax payments. Continue Reading →

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Expert has idea that could lessen federal taxes for CT taxpayers

Carstensen,Fred 4-6-10

Connecticut’s low- and middle-income households could pay tens of millions of dollars less in federal taxes each year while state officials simultaneously gain access to a wealth of new economic data. But for that to happen, according to one of the state’s leading economists, Connecticut officials first take a fiscal leap of faith – and repeal arguably the state’s most popular tax break.
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McKinney pitches middle-class tax break, less aid for poor

GOP gubernatorial candidate John McKinney discusses his tax cut plan outside of a Stratford shopping center

Republican gubernatorial contender John P. McKinney unveiled a plan Thursday to exempt all households earning less than $75,000 per year from the state income tax. But the proposal hinges on several controversial elements, including repeal of a tax credit that saves working poor families almost $120 million per year.

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