Connecticut residents are again paying some of the highest state and local taxes this year, according to updated figures from the Tax Foundation. The Tax Foundation’s annual State and Local Tax Burdens report looked at […]
EXECUTIVE SUMMARY By Ken Girardin Connecticut state officials have proposed entering the private health insurance business to assist residents who are either unable or struggling to afford coverage. Proponents hope to offer a “public option” […]
EXECUTIVE SUMMARY by Ken Girardin with analysis by Marc Joffe Most of Connecticut’s towns and cities face significant unfunded liabilities from pension and retiree healthcare benefits promised to current and former employees. In fact, these […]
EXECUTIVE SUMMARY By Ken Girardin with Daniel Gressel, Ph.D. Connecticut missed out on much of a decade-long national economic expansion. The state added essentially zero private-sector jobs between 2017 and 2019, its population was essentially […]
Three decades have passed since the historic budget crisis that culminated in the creation of Connecticut’s personal income tax.The tax was enacted out of desperation: a roaring private sector buoyed a multi-year explosion in state spending, which left state government deep in the red as the economy slowed and tax revenues sank. Connecticut’s income tax experience has been a cautionary tale about increasing the state’s reliance on higher-earners
** For the full study including charts and graphs, please download the PDF** When Connecticut policymakers adopted an individual income tax in 1991, many hoped that it would take pressure off state sales taxes and […]
**For full citations, charts and graphs, please download the PDF** Executive Summary Since 1991, the state has taken in $126 billion through the income tax. The top income tax rate has risen steadily since 1991 […]
Download the pdf for tables, graphs and footnotes. TAXES AT HOME: A Comparison of Municipal Spendingby Zachary Janowski with Benjamin Levy and Thurston PowersAUGUST 2015 EXECUTIVE SUMMARYHigh property taxes are a fact of life in Connecticut. Assessed at the local […]
The Connecticut State Legislature will begin its 2023 session on January 4th and will adjourn on June 7th. The “long session,” as non-election years are called in Hartford, will be centered around the biennial budget. The Office of the State Comptroller reports that state government found a way to spend $47.11 billion in 2022 and, if trends continue, we can expect that number to grow even more going forward. Concerns over energy prices, inflation, and general cost of living continue to dominate the headlines and the threat of a recession hovers over economic forecasts.
What will our elected officials be working on to improve policy outcomes for Connecticut residents? What tax reform proposals will there be? What can be done to lower home heating bills? How will state and local budgets be affected by fewer federal resources? How will schools be implementing to curriculum requirements?
While we wait to see the thousands of individual and committee bills that while dominate the myriad policy debates this year, Yankee Institute is hard at work promoting free-market solutions to the problems we face from Stamford to Putnam and Mystic to Salisbury. To that end, we have produced a new edition of our Charter for Change. The Charter provides commonsense reforms to make Connecticut’s government work for its residents.
Though the list of reforms may be exhausting to review, it is far from exhaustive! And that’s why we want to work with you to build a broad-based coalition to encourage sound policy reforms to enable Connecticut residents to forge a better future for themselves and their families.
It’s also imperative that we do so. As we noted in a report and CT Mirror op-ed last year, the debate over whether we’re in a national recession really misses the point for Connecticut residents. We had more people employed in the private sector in 2007 than we do today. Our economy has grown at one of the slowest rates in the nation for the past decade, and we are getting outpaced year after year. We’re not attracting innovation and industry. We’re losing some of our best and brightest as they seek other parts of the country where it’s easier to make a living.
But together, we can reverse this trend.
At Yankee Institute, we know Connecticut is a state with boundless opportunity, and we intend to help make our state more than a place where people are just able to make ends meet! Connecticut should be a place where everyone can thrive – and with your help, it will be.