A CT Mirror article published on Nov. 21 pointed out that Connecticut’s income tax was never meant to be temporary, refuting a common talking point employed by lawmakers and political candidates, the public, No Tolls CT and, in one instance, the Yankee Institute. The “myth” of the temporary income tax ...
state income tax
Tax Foundation’s annual ranking of states based on state and local tax collection placed Connecticut second in the nation, trailing only New York, for the most money collected per resident.
The Commission on Fiscal Stability and Economic Growth — composed of Connecticut CEOs and business owners — released their much-anticipated recommendations today at the Capitol, which included a combination of tax increases, tax cuts, tolls and a $15 minimum wage.
Connecticut’s bond commission just approved another $1 billion in general obligation bonds to be issued for schools, capital projects and tax credits to businesses, but beginning in 2018 the state will begin to issue a new type of bond. Included in the bipartisan budget package was a provision to issue new revenue bonds tied directly to Connecticut’s income tax, which the Treasurer’s office described as “stable and strong.”