May 16, 2013
One sometimes hears that recent state income tax increases on the rich could cause them to leave Connecticut for New York and points south. Academic research has shown that taxes are simply not a significant factor in families’ moving decisions. Nonetheless, some believe they are, and so it is important for policymakers to understand how […]
January 14, 2013
Connecticut’s revenue system is falling short of providing the revenues we need to maintain the public structures that keep Connecticut strong and vibrant, including our education, health, public safety, environmental protection, and transportation systems. This candidate brief reviews problems with Connecticut’s state revenue system. In Connecticut, wealthy residents pay a smaller share of their income […]
January 14, 2013
While intended to spark a home-grown entertainment industry in Connecticut, Connecticut Voices’ analysis of recently-released data from the Commission on Culture and Tourism shows that the tax credits have largely been subsidizing out-of-state personnel and businesses. Data in a spreadsheet provided to a General Assembly subcommittee looking at tax credits showed that only 11% of […]
January 14, 2013
The Governor has proposed eliminating the unified gift and estate tax. As part of her most recent package of proposed budget changes to balance the State Fiscal Year 2010-2011 (SFY 10-11) budgets, the Governor has proposed eliminating the “inheritance tax” effective January 2010. 1 This repeal not only would reduce General Fund revenues by $85 […]
January 14, 2013
“Today I submit testimony regarding Senate Bill 1007 An Act Concerning the Governor’s Recommendations on Revenue, in particular, regarding components of the act which concern the personal income tax. Specifically, this testimony makes three broad points: 1) The Governor’s personal income tax proposals generally represent an improvement to Connecticut’s current income tax. 2) The total […]
January 14, 2013
Despite recent efforts to make the Connecticut tax system fairer, the wealthiest 1% of our residents will still pay only half as much of their income in state and local taxes as the poor and middle class, according to a new analysis by the Institute on Taxation and Economic Policy. The state and local tax […]
January 14, 2013
As Connecticut works towards a plan for economic growth and job creation, it is essential that we understand our strengths and weaknesses. This brief fact sheet outlines several indicators — “benchmarks — that should inform our policy discussion about jobs, economic competitiveness, and shared prosperity for all Connecticut families. Read the Full Report (PDF)
December 17, 2012
This report puts Connecticut’s budget in perspective. It compares our response to the current downturn with our reaction to the previous two, it assesses the impact of recent changes on the progressivity of our tax code, and it places our current expenditures and taxes in historical context. Taking this broad view yields a set of […]
December 17, 2012
In recent months, there has been a steady stream of reports about state business taxation. The Council on State Taxation (COST), a trade association of large corporations, released its annual ranking of state and local business taxes, naming Connecticut the lowest-tax state in America. Then, Good Jobs First graded states on accountability provisions in their […]