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 Finance, Revenue and Bonding Committee heard testimony Monday regarding a property tax cap bill that would cap property tax increases at 2.5 percent but allow municipalities to levy a sales or income tax to
The Tax Foundation released its annual ranking of states based on their overall business tax climate and placed Connecticut 47th in the country, besting both New York and New Jersey but falling short of other
CT Voices for Children, a public policy organization based in New Haven, released the first in a series of recommendations for mitigating the economic recession caused by the COVID-19 pandemic. Their recommendations included increasing 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
Analysis: Preview of the budget battle ahead Democrats are gearing up for an intra-party squabble about how to close the $3.7 billion two-year budget deficit. This year’s budget battle won’t be Democrats vs. Republicans, but
“Changes intended to make tax collections more stable, combined with constraints intended to promote fiscal prudence, have strayed far wide of the mark.”
A withering assessment of Connecticut’s economic and fiscal problems was used by The Pioneer Institute — a think-tank based in Boston — as an example of why Massachusetts should not raise taxes on high-income earners.