Lawmakers are expected to endorse income tax cuts for the working poor and middle class, as well as a new child tax credit.
A progressive policy think-tank wants inflationary adjustments and other state income tax reforms to send millions to working class families.
Millions of dollars in proposed tax hikes and cuts remain in play as the finance committee nears its Thursday deadline.
House Democrats tempered their income tax relief plan for households with children to ensure the program continues year after year.
The state Senate’s highest-ranking Democrat proposed new taxes on high-value homes and the capital gains of Connecticut’s highest earners.
A new proposal Tuesday would give middle class families with children their largest state income tax break in a decade.
Projected state revenues skyrocketed by $1.7 billion Friday, positioning officials to balance the next state budget without tax hikes.
Gov. Ned Lamont says tax hikes on the wealthy will cause them to flee Connecticut. Other Democrats are challenging that.
With the coronavirus turning many commuters into at-home workers, Connecticut has a unique chance to reset its economy.
The next Connecticut income tax debate is heating up — but not at the Capitol.
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.
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.
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.
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.
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.