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income tax

Posted inMoney

Tax relief expected to dominate CT legislature’s budget plan this week

Avatar photo by Keith M. Phaneuf April 5, 2022 @ 5:00 amAugust 1, 2022 @ 4:03 pm

Lawmakers are expected to endorse income tax cuts for the working poor and middle class, as well as a new child tax credit.

Posted inMoney

Progressive group says CT income tax is tone-deaf to inflation

Avatar photo by Keith M. Phaneuf January 20, 2022 @ 4:19 pmJanuary 26, 2023 @ 10:27 pm

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

Avatar photo by Keith M. Phaneuf April 20, 2021 @ 5:00 amMarch 5, 2022 @ 12:52 am

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

Avatar photo by Keith M. Phaneuf March 24, 2021 @ 11:35 amMarch 5, 2022 @ 12:53 am

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

Avatar photo by Keith M. Phaneuf January 26, 2021 @ 5:00 amMarch 5, 2022 @ 12:45 am

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

Avatar photo by Keith M. Phaneuf January 19, 2021 @ 5:00 amMarch 5, 2022 @ 12:47 am

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

Avatar photo by Keith M. Phaneuf January 15, 2021 @ 5:20 pmMarch 5, 2022 @ 12:47 am

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?

Avatar photo by Keith M. Phaneuf December 22, 2020 @ 5:00 amMarch 5, 2022 @ 12:47 am

Gov. Ned Lamont says tax hikes on the wealthy will cause them to flee Connecticut. Other Democrats are challenging that.

Posted inPolitics

Lamont to name GOP’s Mark Boughton as the state’s taxman

Avatar photo by Mark Pazniokas December 10, 2020 @ 9:46 pmMarch 5, 2022 @ 12:47 am

Mark Boughton vowed to cut taxes as a GOP candidate governor. Now, he’s going to collect them for a Democrat.

Posted inEconomic Development

Pandemic, tax issues give Connecticut a chance to reset economy, strengthen the region

Avatar photo by Keith M. Phaneuf July 20, 2020 @ 5:00 amSeptember 4, 2022 @ 11:27 pm

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

Avatar photo by Keith M. Phaneuf May 18, 2020 @ 5:30 pmMarch 5, 2022 @ 12:32 am

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

Avatar photo by Keith M. Phaneuf May 30, 2019 @ 5:59 pmAugust 1, 2022 @ 3:49 pm

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

Avatar photo by Keith M. Phaneuf May 22, 2019 @ 4:58 amMarch 5, 2022 @ 12:12 am

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

Avatar photoAvatar photoAvatar photo by Keith M. Phaneuf, Mark Pazniokas and Kathleen Megan April 30, 2019 @ 2:30 pmAugust 1, 2022 @ 3:51 pm

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

Avatar photoAvatar photo by Keith M. Phaneuf and Mark Pazniokas April 18, 2019 @ 11:29 amMarch 5, 2022 @ 12:06 am

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.

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