Commentary: Tax Relief Is Coming to Millions of Red-State Residents in Ohio, Connecticut, and More

July marked the beginning of Fiscal Year 2024 for 46 of the 50 states. It also closes the books on most state legislative sessions in what was an incredible 2023 for hard-working taxpayers.

In recent years, we’ve seen significant income tax relief in the states. Notably, 10 states – Kentucky, West Virginia, Montana, Utah, Arkansas, North Dakota, Indiana, Nebraska, Connecticut, and Ohio – have cut personal income taxes (PIT) in 2023. With the new addition of West Virginia, North Dakota, and Connecticut, 22 states have cut personal income taxes since 2021, with several of these states cutting taxes multiple times during that period.

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Connecticut Gov. Lamont Seeks Income Tax Cut in Budget Proposal

Connecticut Gov. Ned Lamont is pitching a plan to cut state income taxes for middle-class workers as part of his budget plan for the next fiscal year. 

Lamont’s proposal, unveiled Monday, calls for permanently lowering the personal income tax rate on single filers’ first $10,000, and $20,000 for joint filers of adjusted gross income from 5% to 4.5%, and the rate on income up to $50,000, and $100,000 for joint filers from 3% to 2%, beginning in 2024. The move, if approved, is projected to save taxpayers $440 million annually.

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Lamont Plans to Sign Connecticut Budget

Connecticut Gov. Ned Lamont (D) indicated Thursday he plans to sign the $24 billion Fiscal Year 2022-23 state budget passed by the Democrat-controlled General Assembly.

Democratic representatives and senators likewise hailed the fiscal plan, noting the nearly $600 million in tax reduction it contains.

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