Lawmakers are expected to endorse income tax cuts for the working poor and middle class, as well as a new child tax credit.
income tax
Posted inMoney
Progressive group says CT income tax is tone-deaf to inflation
A progressive policy think-tank wants inflationary adjustments and other state income tax reforms to send millions to working class families.
Posted inMoney
Big dollars hang in the balance as CT finance panel rushes to finish work
Millions of dollars in proposed tax hikes and cuts remain in play as the finance committee nears its Thursday deadline.
Posted inMoney
House Democrats temper child tax credit to make relief program sustainable
House Democrats tempered their income tax relief plan for households with children to ensure the program continues year after year.
Posted inMoney
Senate leader pitches new state property tax on high-value homes
The state Senate’s highest-ranking Democrat proposed new taxes on high-value homes and the capital gains of Connecticut’s highest earners.
Posted inMoney
State Rep. Scanlon launches tax fairness debate with proposed $450M break for poor, middle class families
A new proposal Tuesday would give middle class families with children their largest state income tax break in a decade.
Posted inMoney
Spiking tax revenue will wipe out state budget deficit, analysts say
Projected state revenues skyrocketed by $1.7 billion Friday, positioning officials to balance the next state budget without tax hikes.
Posted inMoney
Are Lamont and his fellow Democrats headed for a showdown over tax reform?
Gov. Ned Lamont says tax hikes on the wealthy will cause them to flee Connecticut. Other Democrats are challenging that.
Posted inEconomic Development
Pandemic, tax issues give Connecticut a chance to reset economy, strengthen the region
With the coronavirus turning many commuters into at-home workers, Connecticut has a unique chance to reset its economy.
Posted inMoney
Progressives look to bring CT’s tax fairness debate to the grassroots level
The next Connecticut income tax debate is heating up — but not at the Capitol.
Posted inMoney
Budget deal struck, doesn’t contain tax hike on wealthy
Gov. Ned Lamont and Democratic legislative leaders agree to $43 billion budget that does not contain the income tax hike on the wealthy sought by progressives in the General Assembly.
Posted inMoney
Lamont’s first budget could hinge on progressive taxes
Gov. Ned Lamont’s goal of completing his first state budget on time could be stymied by his reluctance to order taxes aimed specifically at Connecticut’s wealthiest.
Posted inMoney
For now, legislators defer to Lamont on capital gains
On spending and taxes, Democratic legislators deferred Tuesday to the more moderate fiscal positions of Gov. Ned Lamont, less a surrender than a postponement of a debate still to come.
Posted inMoney
Legislators break with Lamont, pitch tax hike on wealthiest
A new proposal by Democratic lawmakers to hike taxes on the capital gains of Connecticut’s wealthiest sets up a showdown with Gov. Ned Lamont.
Posted inMoney
Who pays the next CT tax hike? Democrats must answer question soon.
None of the options are good for Democrats, who must decide whether to spread additional tax pain to low and middle-income residents or ask the state’s wealthiest to pay more.