Connecticut lawmakers are looking to provide more relief for middle-income pensioners as part of a broader tax package working its way through the legislative process.
The proposal, which is being considered by the Legislature’s Finance, Revenue and Bonding Committee this week, would exempt more middle-income retirees in Connecticut from paying state taxes on earnings from pensions and annuities.
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Connecticut cities and towns are seeking tax relief and more money for education from the state as a new legislative session gets underway.
The Connecticut Conference of Municipalities has released a list of legislative priorities that its 168 municipal members believe “merit priority action” by Gov. Ned Lamont and the General Assembly before the regular session ends in June.
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Connecticut Republican legislators said on Saturday they want the state to challenge a part of the American Rescue Plan Act which limits states’ ability to cut taxes.
GOP senators and representatives are calling for tax reduction beyond the targeted relief backed by Gov. Ned Lamont (D). A major roadblock to greater decreases will be the COVID-relief bill President Joe Biden signed into law last year. The act included $195.3 billion in recovery funds for states and barred states accepting allocations from using them to “directly or indirectly offset a reduction in net tax revenue… or delay the imposition of any tax or tax increase.”
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