The Finance, Revenue and Bonding Committee on Wednesday approved a $1.3 billion revenue increase, largely funded by maintaining a tax on hospitals, a 2 percent surtax on capital gains and various increases to the sales tax for restaurant meals, digital downloads and ridesharing services, among others. Union activists representing the ...
“The budget proposals released today by the Finance, Revenue and Bonding Committee demonstrate a disturbing inability to learn from the negative impact of past tax increases. Although we welcome the proposal to eliminate the gift tax, it’s remarkable that billions more are being demanded from taxpayers, after so little apparent ...
The Appropriations Committee released its state funding recommendations Tuesday, which showed a $544 million dollar growth in fringe benefit costs for Connecticut state employees between 2019 and 2021. The Appropriations Committee budget recommendations largely fell in line with Gov. Ned Lamont’s budget and reflects the growing cost of Connecticut’s State ...
Early reports of budget recommendations from Connecticut’s Appropriations Committee showed the Committee rejected Gov. Ned Lamont’s proposal to force municipalities to cover a portion of the state’s teacher pension costs. But that major point of divergence from the governor’s budget turned out to be a mistake. At a press conference ...
Connecticut’s Department of Labor has a “hostile work environment” – particularly in the Wage and Workplace Standards Division which investigates and levies fines against employers for violations of state labor laws. That’s according to Connecticut state auditors who released the latest audit of the department. Seven recommendations by the auditors ...
As Democrats in the legislature float proposals to raise the income tax rate on Connecticut’s highest earners and increase the capital gains tax, Chief Executive Officer for Greenwich-based AQR Capital Management Clifford Asness tweeted “Do people generally prefer living in Texas or Florida? Asking for a friend.” Asness’ tweet linked ...