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The state House of Representatives voted unanimously to suspend a 25 cent-a-gallon tax on gasoline for three months beginning in April.
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Governor Ned Lamont introduced a plan for new property tax cuts aimed to offset high inflation. He hopes they will be enough to retain Connecticut’s population.
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Senator Cathy Osten, co-chair of the Appropriations Committee, said $160 million budgeted to reimburse cities and towns for lost car tax revenue could be better spent on early childhood education.
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Bridgeport officials want to expand the city’s downtown with new luxury and affordable housing developments.
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A proposal by Democratic leaders to expand the state’s earned income tax credit was announced the same day Democratic Governor Ned Lamont urged support for his $336 million in tax relief for state residents. But the state’s Black and Puerto Rican Caucus wants more systemic changes.
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The Volunteer Income Tax Assistance program, also known as VITA, provides help for tax-filers with low to moderate incomes, people with disabilities and non-native English language speakers.
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With Connecticut expecting a $1.5 billion budget surplus this year, Governor Ned Lamont has a plan to reduce taxes for state residents.
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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.
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Tax reform advocates are urging Connecticut to make permanent an improved tax credit system to help middle-class and working-class families.
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In a report, New York State Comptroller Thomas DiNapoli calculates the inflation rate for schools to be 4.7%. Still, by law, schools can’t raise taxes by more than 2%.