Senator Honig’s Middle-Class Tax Cut Advances with Bipartisan Support
HARTFORD — Senator Paul Honig, D-Harwinton, today celebrated the bipartisan advancement of Senate Bill 513 out of the legislature’s Finance, Revenue and Bonding Committee. The bill would create a new program that gives workers access to the same kind of federal tax relief that Connecticut business owners already receive through the pass-through entity tax.
“My constituents sent me to Hartford to make Connecticut more affordable, and that means finding practical ways to put money back in their pockets,” Senator Honig said. “Middle-class families are too often overlooked by the programs and tax breaks designed to help people get ahead. This bill is for them. It will save many households more than $1,100 a year, and there’s no added cost to employers or the state. I’m grateful for the committee’s bipartisan support and look forward to passing this in the full Senate.”
Under SB 513, participating employees take a voluntary reduction in salary and receive an even larger cut in taxes. The result is an increase in take-home pay. The bill is designed to benefit working and middle-class Connecticut families earning more than $50,000 a year.
FOR IMMEDIATE RELEASE
Contact: Hugh McQuaid | hugh.mcquaid@cga.ct.gov |
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