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 ...
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 ...
The Governor and legislative leaders have promised us a paid FMLA plan that will cost only one-half-of-one-percent of each worker’s payroll. They have also promised that the benefit will cover up to $900 or $1000 per week in lost wages for 12 – and sometimes more – weeks every year. As we demonstrated earlier ...
As residents see tax refunds or payments flow in or out of their checking accounts, many low-earning Connecticut residents can expect to see tax refunds based on the Earned Income Tax Credit. The EITC supplements the wages of low-income workers by sending them a check after they file their tax ...
Tolls can be user fees, depending on how they are conceived and implemented. As proposed in Connecticut, however, they will not be user fees, but rather a massive wealth transfer: in short, another giant tax increase. Politicians trying to hide a huge tax increase under another – any other – label is depressing, but not surprising. What is ...
Instituting a paid family medical leave program in Connecticut is one of the biggest legislative pushes of the year and will be funded with a .5 percent payroll tax on all employees except state employee union members and municipal employees. According to the several bills proposed by Gov. Ned Lamont ...