The Moderate House Democratic Caucus said they stand with Gov. Ned Lamont in opposing tax increases on Connecticut’s wealthy residents proposed by their progressive counterparts as Democratic legislative leaders and the governor begin budget negotiations.
Democratic legislative leaders held a press conference pitching a $46 billion budget proposal from the Appropriations Committee and announcing their intention to push forward with tax increases on Connecticut’s wealthy residents despite opposition from Gov.
The budget package passed by the Finance, Revenue and Bonding Committee includes more than $1 billion in new taxes by 2023 coupled with some targeted tax credits, according to the fiscal note attached to the
The General Assembly’s joint Finance, Revenue and Bonding committee observed the 30th anniversary of Connecticut’s state income tax by imposing a new, separate income tax on the state’s top earners. The committee approved a 25-part measure which includes a new “consumption tax” on state residents with federal adjusted gross