The Connecticut Senate Republican Caucus unveiled a structural affordability plan aimed at reversing policies that have made Connecticut one of the most expensive states in the nation.
It is the result of years of bad policy choices that have made it extremely difficult for hardworking people to stay, earn a living, and raise their families here.
Under Democratic leadership, Connecticut now ranks:
Senate Republicans are advocating for the following:
WORKING CLASS INCOME TAX CUT:
A $1 billion income tax cut
40% reduction for single filers making $50,000 and joint filers making $100,000
16% reduction for single filers making $100,000 and joint filers making $200,000
Eliminate income tax for single filers making $25,000
Up to $1600 in tax relief for joint filers, up to $800 for a single filer
WORKING CLASS CAR TAX ELIMINATION:
100% refundable income tax credit for single filers making less than $100,000 and joint filers making less than $200,000 on property taxes paid to towns on their cars
No loss of revenue to towns
Maintains existing $300 property tax credit
The Senate Republican Caucus Affordability Plan also includes:
Institute a Property Tax Levy Cap for municipalities of the greater of 2% or the cost of inflation. Towns are allowed to override the cap for major projects with 60% vote at referendum
Eliminate occupational license fees for professions including: electrician, HVAC, plumber, teacher, realtor, speech and language pathologist
Reduce the Payroll tax (CT Paid Family Leave) by 20%
Implement the Bipartisan Supported Association Health Plans
Cut All Public Benefits Charges from electric bills for end use customers of each electric distribution company and move such expenses to the state budget process
Cap Power Purchase Agreements at 2.5 times the wholesale price of electricity
Prohibit PURA from Enacting Programs with Ratepayer Impact without Legislative Approval
Immediate study by state agencies on how to reduce the costs of living and working for the people, businesses, municipalities, and non-profit organizations of Connecticut
For years, residents have been offered temporary rebates and election-year gimmicks. This plan actually changes the structure that made Connecticut unaffordable in the first place.
I urge Democratic lawmakers to engage with the proposal.
