Senate Gives Final Approval To State Budget Package With Historic Tax Cuts
Tens of Millions of Aid for Local Schools and Nonprofits Rounds Out Bipartisan Two-Year State Spending and Revenue Plan
HARTFORD – State Senator Jan Hochadel (D-Meriden) today joined in the bipartisan Senate passage of a two-year state budget that includes a historic middle-class personal income tax cut while providing towns more money for local schools as well as funding much-needed state social service programs.
The $51.1 billion biennial state budget passed the Senate today on a bipartisan vote of 35-1. The new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
In the 13th district, which includes Meriden, Cheshire, Middlefield, and Middletown, Senator Hochadel secured an increase of $14.7 million in state funding over the next two years, and an increase of $16.2 million in ECS funding over the next two years.
Senator Hochadel is thrilled to welcome additional resources to support the elderly population in our state, including over $8.3 million for the elderly nutrition program. The budget also includes $5 million to assist paraeducators.
“This bipartisan budget invests in our schools, students and staff and provides our K-12 students with the best opportunities to learn and succeed,” said Sen. Hochadel. “I am also thrilled we’re increasing support for paraeducators, whose one-on-one attention given to students in the classroom is vital to their continued education. Also, this budget passed today works to expand services for seniors in communities across the state and as Chair of the Aging Committee, I will continue to fight for our elderly population.”
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $80,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $100,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save moderate income households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town seeing a reduction. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby providing property tax assistance. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include:$3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Support for public higher education at levels far above those originally proposed
SENATE GIVES FINAL APPROVAL TO STATE BUDGET PACKAGE WITH HISTORIC TAX CUTS
SENATE GIVES FINAL APPROVAL TO STATE BUDGET PACKAGE WITH HISTORIC TAX CUTS
More Aid for Local Schools and Nonprofits Rounds Out Bipartisan Two-Year State Spending and Revenue Plan
HARTFORD – State Senator Herron Keyon Gaston (D-Bridgeport / Stratford) today joined in the bipartisan Senate passage of a two-year state budget that includes a historic middle-class personal income tax cut while simultaneously providing towns more money for local schools as well as funding much-needed state social service programs.
The $51.1 billion biennial state budget passed the Senate today on a bipartisan vote of 35-1. The new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
In the new state budget, Stratford will receive over a $4.1 million increase in state Education Cost Sharing (ECS) grants over the next two years, and over $6.2 million in additional state funding over two years.
“This biennial state budget provides Connecticut with relief as funds will increase support for education and provide tax cuts for thousands of residents in Connecticut,” said Sen. Gaston. “Stratford alone receiving additional state funding increases support for children and their families. I am proud of the work done today by my colleagues that will award students an education and provide resources to local non-profits.”
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $80,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $100,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save moderate income households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town seeing a reduction. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby providing property tax assistance. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include: $3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Support for public higher education at levels far above those originally proposed
Moore, Gaston Highlight Funding for Bridgeport in State Budget
Moore, Gaston Highlight Funding for Bridgeport in State Budget
Today, state Senators Marilyn Moore (D-Bridgeport) and Herron Keyon Gaston (D-Bridgeport) highlighted state funding for Bridgeport in the new biennial state budget. Included in the budget is increased funding for the city of Bridgeport, local K-12 education, area non-profits, and increased access to debt-free community college.
In the state budget which passed the State Senate today, funding for K-12 education in Bridgeport will be $192.4 million this year and $200.3 million the year after. These are increases over Fiscal Year 2023 of $3.4 million and $11.4 million, respectively. In addition, Bridgeport will receive increased funding for adult education for a total of $2.66 million in FY 2024 and $2.67 million in FY 2025.
Beyond education funding, the city of Bridgeport will receive: $22.4 million each year through the Payment in Lieu of Taxes grant; $6.05 million each year through the Supplemental Revenue Sharing Grant; $5.6 million each year through the Mashantucket Pequot & Mohegan Fund Grant; $2.19 million each year through the Local Capital Improvement grant; $1.39 million each year through the Town Aid Road grant; $1 million each year through the Municipal Grant-In-Aid funding program
In addition, the city of Bridgeport will receive funding beyond the normal funding grants available to other municipalities. In the Supplemental Revenue Sharing Grant, Bridgeport will receive $7 million in FY 24.
Furthermore, the taxpayers of Bridgeport will see direct property tax relief through the continuation of the cap on the car tax. With the cap remaining at 32.46 mills, the state will send $9.9 million each year to Bridgeport to pay for the property tax relief provided to motor vehicle owners.
In Bridgeport, the state budget is allocating the following to local non-profits: ACCESS Educational Services – $60k; Yuke Nation Inc. – $15k; The Bridgeport Police Activities League Inc. – $15k; Project LEARN – $7.5k; Bridgeport Caribe Youth Leaders, Inc. – $500k; Cardinal Shehan Center – $10k; Unique and Unified New Era Youth Development, Inc. – $25k; Hope Center Foundation For Non-Violence and Social Change – $12.5k; Bridgeport Youth Lacrosse Inc. – $110k; East End Baptist Tabernacle Church Inc. – $40k; The SYMI Academy – $10k; McGivney Community Center Inc. – $10k; Yellow Mill Village Scholarship Foundation Inc. – $10k; Unique & Unified New Era Youth Movement – $15k; The Dominican American Coalition of Connecticut, Inc. – $10k; 100 Girls Leading – $15k; East End NRZ Market & Café – $60k; Creative Youth Productions Inc. (CYP) – $15k; Village Initiative Project Inc. – $132.5k; The Willie and Sandra McBride Foundation – $75k; Bernard Buddy Jordan Foundation – $75k; Bridgeport Economic 470 Development Corporation for cultural events – $350k; Full Circle Youth Empowerment – $1M; Bridgeport City Hall for Lighthouse Program – $375k – in 2024 & 2025; Bridgeport Caribe Youth Leaders – $200k – in 2024 & 2025; Elevate Bridgeport – $200k; Greater Bridgeport OIC Job Development and Training Program – $100k; Cradle to Career – $150k; Bridgeport workplace – $750k
The new state budget also includes $7.8 million over the next two years for gun violence prevention in Connecticut. A portion of this funding will support state-funded efforts in Bridgeport to reduce gun violence.
“Securing funding in our state budget will create opportunities for families to succeed in Bridgeport,” said Sen. Moore. “Non-profits, education, and increasing awareness surrounding gun-violence depicts the vision for the future of our residents. Safeguarding these funds will allocate resources that are detrimental to our community in Bridgeport. This is what Bridgeport deserves. We as a Senate Democratic caucus have taken the initiative to provide our constituents in Connecticut the added resources they need to succeed.”
“This year’s state budget ensures a remarkable future for the great city of Bridgeport,” said Sen. Gaston. “Our priority this legislation was to integrate what was needed most in this budget. Bridgeport will continue to be a community that families can rely on. This budget focuses on the importance of education, providing resources to our local non-profits and working to put an end to gun violence. I am proud to stand alongside my colleagues as we take the lead in building a better future for Connecticut.”
Beyond the support for Bridgeport, the new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $100,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $100,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save moderate income households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town seeing a reduction. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby providing property tax assistance. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include:$3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Support for public higher education at levels far above those originally proposed
SENATE GIVES FINAL APPROVAL TO BIPARTISAN, DEMOCRATIC LED BUDGET WITH HISTORIC TAX CUTS
SENATE GIVES FINAL APPROVAL TO BIPARTISAN, DEMOCRATIC LED BUDGET WITH HISTORIC TAX CUTS
More Aid for Local Schools and Nonprofits Rounds Out Bipartisan Two-Year State Spending and Revenue Plan
HARTFORD – State Senator MD Rahman (D-Manchester) today joined in the bipartisan Senate passage of a two-year state budget that includes a historic middle-class personal income tax cut while simultaneously providing towns more money for local schools as well as funding much-needed state social service programs.
The $51.1 billion biennial state budget passed the Senate today on a bipartisan vote of 35-1. The new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
“Connecticut taxpayers deserve relief. Connecticut education deserves support. Connecticut communities deserve funding. I am proud to vote for a budget that accomplishes all of these goals while retaining fiscal prudency,” said Sen. Rahman. “Its investments in seniors, in workforce development and in health care will all support our state for years to come. I voted yes on this budget with pride, because I know it will aid our residents in communities all around the state.”
Through the state’s Education Cost Sharing Formula in the budget, towns in the 4th Senate District will receive $8.787 million in additional educational support in the next two years.
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $100,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $80,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save middle-class households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town being cut. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby helping to keep local property tax rates low. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include: $3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Restores 100% of service on the New Haven train line and branch lines next year
SENATE GIVES FINAL APPROVAL TO BIPARTISAN, DEMOCRATIC LED BUDGET WITH HISTORIC TAX CUTS
SENATE GIVES FINAL APPROVAL TO BIPARTISAN, DEMOCRATIC LED BUDGET WITH HISTORIC TAX CUTS
More Aid for Local Schools and Nonprofits Rounds Out Bipartisan Two-Year State Spending and Revenue Plan
HARTFORD – State Senator Martha Marx (D-New London) today joined in the bipartisan Senate passage of a two-year state budget that includes a historic middle-class personal income tax cut while simultaneously providing towns more money for local schools as well as funding much-needed state social service programs.
The $51.1 billion biennial state budget passed the Senate today on a bipartisan vote of 35-1. The new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
“Connecticut needs a budget that provides support for taxpayers, aids education from kindergarten to higher education and invests in health care across the state,” said Sen. Marx. “I’m proud to vote for this budget because it represents the state retaining its fiscal responsibilities in a mindful manner without losing sight of necessary supports.”,/p>
Through the state’s Education Cost Sharing Formula in the budget, towns in the 20th Senate District will receive $2.751 million in additional educational support in the next two years.
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $100,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $80,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save middle-class households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town being cut. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby helping to keep local property tax rates low. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include: $3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Restores 100% of service on the New Haven train line and branch lines next year
SENATE GIVES FINAL APPROVAL TO BIPARTISAN, DEMOCRATIC LED BUDGET WITH HISTORIC TAX CUTS
SENATE GIVES FINAL APPROVAL TO BIPARTISAN, DEMOCRATIC LED BUDGET WITH HISTORIC TAX CUTS
More Aid for Local Schools and Nonprofits Rounds Out Bipartisan Two-Year State Spending and Revenue Plan
HARTFORD – State Senator Saud Anwar (D-South Windsor) today joined in the bipartisan Senate passage of a two-year state budget that includes a historic middle-class personal income tax cut while simultaneously providing towns more money for local schools as well as funding much-needed state social service programs.
The $51.1 billion biennial state budget passed the Senate today on a bipartisan vote of 35-1. The new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
“Connecticut deserves a budget that meets its residents where they are,” said Sen. Anwar. “I am proud to join my colleagues in supporting this two-year spending plan because it does just that. We’re giving countless families valuable tax relief without losing sight of supporting our schools, funding our nonprofits and bolstering our workforce pipelines. The local support for the 3rd Senate District only furthers my belief in this budget. It’s setting the stage for Connecticut’s next two years in the best way.”
Through the state’s Education Cost Sharing Formula in the budget, towns in the 3rd Senate District will receive $10.61 million in additional educational support in the next two years.
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $100,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $80,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save middle-class households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town being cut. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby helping to keep local property tax rates low. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include: $3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Restores 100% of service on the New Haven train line and branch lines next year
Duff Leads Passage of Bipartisan, Democratic Budget
Duff Leads Passage of Bipartisan, Democratic Budget
HARTFORD – Senate Majority Leader Bob Duff (D-Norwalk) today led bipartisan Senate passage of a two-year state budget that includes a historic working class and middle class personal income tax cut while simultaneously providing towns more money for local schools as well as funding much-needed state social service programs.
The $51.1 billion biennial state budget for July 2023-June 2025 passed the Senate today. The new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
“This Democratic led bipartisan budget is laser focused on helping middle class and working class families,” said Senator Duff. “This budget delivers tax cuts, education funding, support for towns and cities, and increases for non-profits–all areas which will benefit Connecticut families. We are accomplishing all of this progress while staying within the spending cap, paying down long-term debt, and saving for a Rainy Day.”
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $100,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $80,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save middle-class households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town being cut. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby helping to keep local property tax rates low. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include: $3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Restores 100% of service on the New Haven train line and branch lines next year
LOONEY LEADS FINAL APPROVAL OF BIPARTISAN, DEMOCRATIC BUDGET WITH HISTORIC TAX CUTS
LOONEY LEADS FINAL APPROVAL OF BIPARTISAN, DEMOCRATIC BUDGET WITH HISTORIC TAX CUTS
More Aid for Local Schools and Nonprofits Rounds Out Bipartisan Two-Year State Spending and Revenue Plan
HARTFORD – Senate President Pro Tempore Martin M. Looney today led bipartisan Senate passage of a two-year state budget that includes a historic working class and middle class personal income tax cut while simultaneously providing towns more money for local schools as well as funding much-needed state social service programs.
The $51.1 billion biennial state budget for July 2023-June 2025 passed the Senate today. The new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
“This budget reflects our core Democratic value that government must invest in people for our state to prosper,” said Senator Looney. “Hundreds of millions more in state funding for our neediest, our non-profit service providers, our local schools, our higher education system, and our cities and towns demonstrates the Democratic commitment to assisting the people of Connecticut. We are able to accomplish all of these investments while also targeting tax cuts to the working class, the middle class, and retirees.”
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $100,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $80,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save middle-class households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town being cut. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby helping to keep local property tax rates low. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include: $3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Restores 100% of service on the New Haven train line and branch lines next year
SENATE GIVES FINAL APPROVAL TO STATE BUDGET PACKAGE WITH HISTORIC TAX CUTS
SENATE GIVES FINAL APPROVAL TO STATE BUDGET PACKAGE WITH HISTORIC TAX CUTS
HARTFORD – State Senator James Maroney (D-Milford) today joined in the bipartisan Senate passage of a two-year state budget that includes a historic middle-class personal income tax cut while providing towns more money for local schools as well as funding much-needed state social service programs.
The $51.1 billion biennial state budget passed the Senate today on a bipartisan vote of 35-1. The new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
In the 14th district, which includes Milford, Woodbridge, West Haven, and Orange, Senator Maroney secured an increase of $7.4 million in state funding over the next two years, and an increase of $6.2 million in ECS funding over the next two years.
“This biennial budget focuses on strengthening municipalities across Connecticut providing support while prioritizing the needs of thousands of residents across the state,” said Senator Maroney. “I am also proud we are prioritizing the safety of our residents. Part of this budget includes funding to expand GPS monitoring of domestic violence offenders across the state. This will hopefully restore some small sense of safety and security to those victims of domestic violence who are living in fear.”
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $100,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $80,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save middle-class households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town being cut. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby helping to keep local property tax rates low. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include: $3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Support for public higher education at levels far above those originally proposed.
SENATE GIVES FINAL APPROVAL TO BIPARTISAN, DEMOCRATIC LED BUDGET WITH HISTORIC TAX CUTS
SENATE GIVES FINAL APPROVAL TO BIPARTISAN, DEMOCRATIC LED BUDGET WITH HISTORIC TAX CUTS
More Aid for Local Schools and Nonprofits Rounds Out Bipartisan Two-Year State Spending and Revenue Plan
HARTFORD – State Senator Norm Needleman today joined in the bipartisan Senate passage of a two-year state budget that includes a historic middle-class personal income tax cut while simultaneously providing towns more money for local schools as well as funding much-needed state social service programs.
The $51.1 billion biennial state budget passed the Senate today on a bipartisan vote of 35-1. The new state budget includes a total of $612 million in personal income and pension tax cuts while providing $300 million more in state aid to local school districts and hundreds of millions more for nonprofits to pay their employees higher wages.
“This budget is meaningful because it supports our state without losing sight of fiscal prudence,” said Sen. Needleman. “Its investment in tax cuts, strong support of education and aid for nonprofits statewide will have strong benefits – and it retains the financial guardrails that have helped drastically bolster our state’s strengths. It sets a strong road forward for the next two years in Connecticut and I’m proud to join its passage.”
Through the state’s Education Cost Sharing Formula in the budget, towns in the 33rd Senate District will receive $2.333 million in additional educational support in the next two years.
The budget passed today includes the first personal income tax cut in Connecticut in nearly 30 years, and it’s focused on Connecticut’s broad middle class – those earning up to $100,000 a year – although all taxpayers will benefit to some extent.
The current 3% income tax rate on the first $10,000 earned by single filers and the $20,000 earned by couples will drop to 2%, and the 5% income tax rate imposed on the next $40,000 earned by singles and $80,000 earned by couples will drop to 4.5%. The income tax cuts are expected to save middle-class households $300 to $500 per year.
The new budget also expands the income tax credit for Connecticut’s working poor from 30.5% of the federal Earned Income Tax Credit to 40%, helping approximately 200,000 Connecticut households.
The new budget also expands the income tax exemption for some pension and annuity earnings, expanding it to single filers making $75,000 – $100,000 and couples making $100,000 -$150,000.
On the spending side, local school districts are the winners, with many towns getting more state aid and no city or town being cut. The new budget provides over $232 million more in Education Cost Sharing (ECS) grants for Connecticut cities and towns, thereby helping to keep local property tax rates low. There’s also $16 million to continue expanded free school meals for children.
Private provider organizations that contract for state-sponsored social services (like aging, disability, corrections, housing, mental health and addiction, early childhood, etc.) will receive $87 million more in each year of the budget, providing 4% and 5.4% cost of living wage increases for their employees.
Other budget highlights include $3 million to expand HUSKY health care for children up to age 15, regardless of their immigration status; $6 million to expand GPS monitoring of domestic violence offenders across the state; $5.4 million to implement early voting initiatives; Restores 100% of service on the New Haven train line and branch lines next year