The General Assembly adopted a $19 billion budget early Sunday that relies on about $200 million in fund sweeps and risky savings and revenues assumptions to stay in balance – including the last-minute discovery of $75 million in “miscellaneous” tax receipts.
Rep. Patricia Widlitz
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Early tax returns diminish hopes for big CT budget surpluses
As the April 15 tax deadline approached, speculation at the Capitol was that tax receipts would rise. The question was, Would they grow modestly, or explode? But early tax returns have weakened hopes for any explosion, and raised the specter of something worse.
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Malloy’s election-year tax cuts face big test this week
With his campaign announcement out of the way, the governor faces a big election-year test this week when a legislative panel decides whether to back his controversial tax rebate plan.
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Is it time to overhaul Connecticut’s tax system?
Rep. Patricia Widlitz, D-Guilford, is co-chairwoman of the Finance Committee. What’s the fairest way for Connecticut to raise $15 billion in taxes each year? Who should pay more? Is $15 billion too much? Too little? And how does the tax system affect the state’s economic competitiveness? These are just a few of the questions that […]