Lamont likely to propose tax cut in upcoming General Assembly session
Connecticut Governor Ned Lamont said he’s open to discussing some tax relief proposals with lawmakers when the General Assembly reconvenes next month.
Despite the pandemic, Connecticut expects a nearly $1 billion budget surplus this year. That means the state can afford to cut taxes by as much as about $250 million, Lamont said.
He’s considering proposing a reduction in some municipal property taxes.
“That’s car tax as well as residence. It’s a tax that’s fixed. You’ve got to pay it during bad times and good times. It’s unforgiving in that way. It hits the middle class pretty hard, so that would be one of my strong initiatives,” he said.
This could be done by expanding the state’s property tax credit and allowing more middle class residents to be eligible to members of the Connecticut Business and Industry Association, he said.
Minority Republicans have proposed cutting taxes by $315 million by getting rid of a 1% sales tax on meals at restaurants and supermarkets.