A child advocacy group wants Connecticut lawmakers to increase taxes on the wealthy to pay for Gov. Ned Lamont’s plan to improve early childhood education.
Lawmakers will consider Lamont’s 5-year plan, drafted by a Blue Ribbon panel last year, in their upcoming session. It recommends universal early childhood education but fails to adequately fund it.
Carla Abdo-Katsipis, author of the report, said the Connecticut Voices for Children analysis of the plan calls for additional sources of funding.
“These recommendations include among others, increasing Connecticut’s estate and gift tax, as well as increasing Connecticut’s tax on investment income,” she said. “Increasing corporate taxes in ways that don’t impact employees or consumers, as well as utilizing bond measures. ”
That would generate up to $475 million annually, she said.
And a 1% increase in the top income tax rate could fund $500 million annually.
Abdo-Katsipis adds that lawmakers could use extra money generated from the increased taxes to set up an Early Childhood Education Trust Fund.
