Connecticut
State Rundown 8/23: Few Lingering Budget Debates Cannot Linger Much Longer
August 23, 2017 • By ITEP Staff
This week, Oklahoma lawmakers learned they'll need to enter a special session to balance their budget and that they'll likely face a lawsuit over their low funding of public education. Pennsylvania's budget stalemate is also coming to a head as the state literally runs out of funds to pay its bills. And Amazon's tax practices are in the news again as the company has been sued in South Carolina.
In Connecticut 60.2 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
August 17, 2017 • By ITEP Staff
A tiny fraction of the Connecticut population (0.9 percent) earns more than $1 million annually. But this elite group would receive 60.2 percent of the tax cuts that go to Connecticut residents under the tax proposals from the Trump administration. A much larger group, 38.6 percent of the state, earns less than $45,000, but would receive just 1.9 percent of the tax cuts.
State Rundown 8/9: And Then There Were Three
August 9, 2017 • By ITEP Staff
This week, Rhode Island lawmakers agreed on a budget, leaving only three states – Connecticut, Pennsylvania, and Wisconsin – without complete budgets. Texas, however, remains in special session and West Virginia could go back into another special session over tax issues. And in New York City, the mayor proposes a tax on the wealthy to […]
Trump Tax Proposals Would Provide Richest One Percent in Connecticut with 62.8 Percent of the State’s Tax Cuts
July 20, 2017 • By ITEP Staff
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Connecticut would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $3,682,800 in 2018. They would receive 62.8 percent of the tax cuts that go to Connecticut’s residents and would enjoy an average cut of $253,050 in 2018 alone.
State Rundown 7/19: Handful of States Still Have Their Hands Full with Tax and Budget Debates
July 19, 2017 • By ITEP Staff
Tax and budget debates drag on in several states this week, as lawmakers continue to work in Alaska, Connecticut, Rhode Island, Pennsylvania, Texas, and Wisconsin. And a showdown is brewing in Kentucky between a regressive tax shift effort and a progressive tax reform plan. Be sure to also check out our "What We're Reading" section for a historical perspective on federal tax reform, a podcast on lessons learned from Kansas and California, and more!
State Rundown 7/11: Some Legislatures Get Long Holiday Weekends, Others Work Overtime
July 11, 2017 • By ITEP Staff
Illinois and New Jersey made national news earlier this month after resolving their contentious budget stalemates. But they weren’t the only states working through (and in some cases after) the holiday weekend to resolve budget issues.
State Rundown 6/28: States Scramble to Finish Budgets Before July Deadlines
June 28, 2017 • By ITEP Staff
This week, several states attempt to wrap up their budget debates before new fiscal years (and holiday vacations) begin in July. Lawmakers reached at least short-term agreement on budgets in Alaska, New Hampshire, Rhode Island, and Vermont, but such resolution remains elusive in Connecticut, Delaware, Illinois, Maine, Pennsylvania, Washington, and Wisconsin.
Connecticut Voices for Children: Testimony Supporting H.B. No. 7316 – An Act Concerning Evaluation of Business Assistance and Incentive Programs H.B. No. 7313 – An Act Imposing a Surcharge on Income Derived From Investment Management
April 11, 2017
At Connecticut Voices for Children, we view the state budget as the clearest statement of Connecticut’s policy priorities. We believe that these priorities should advance long-term inclusive economic prosperity, equity of opportunity, and support for our most vulnerable residents. We believe that an effective revenue system can advance these core priorities by adhering to five […]
Connecticut Voices for Children: Testimony Regarding S.B. No. 787 – AAC Revenue Items To Implement the Governor’s Budget
March 9, 2017
At Connecticut Voices for Children, we view the state budget as the clearest statement of Connecticut’s policy priorities. We believe that these priorities should advance long-term inclusive economic prosperity, equity of opportunity, and support for our most vulnerable residents. We believe that an effective revenue system can advance these core priorities by adhering to five […]
Connecticut Voices for Children: Testimony Regarding Estate and Gift Taxes and Exempting Retirement Income: SB 5, SB 58, HB 6358, SB 6, SB 272, HB 6558, and HB 5587
March 3, 2017
Exemptions to Pensions and Social Security – Exempting retirement income would not only cause immediate revenue deterioration, but given the state’s aging population, could threaten long-term adequacy of the income tax. According to the University of Virginia’s Demographics’ Research Group, Connecticut’s share of individuals age 65 and older is expected to increase rapidly from 14 […]
News-Times: Estate tax change makes no sense
January 23, 2017
“According to the Institute on Taxation and Economic Policy, Connecticut’s top 1 percent (making more than $1.33 million a year) saw just 5.3 percent of their incomes go to taxes in 2015 (income, and sales). Conversely, the bottom 20 percent (making less than $25,000 a year) paid nearly twice that. Meanwhile, 40 percent paid a […]
Connecticut Voices for Children: Revenue Options are Key to Addressing Budget Shortfalls and Supporting Thriving Communities
January 18, 2017
Long-term investments in children and families have been the cornerstone of the state’s prosperity. To preserve these investments and support long term economic health, a balanced approach to the upcoming biennial budget must include new resources. Read more here
Connecticut Voices for Children: Impact of the Final FY 2017 Budget on Children and Families
January 9, 2017
“Following hundreds of millions of dollars in budget cuts in Fiscal Year 2016, Connecticut policymakers tackled the nearly $1 billion budget deficit in Fiscal Year 2017 (FY 17) by adopting a two-pronged austerity approach. First, policymakers refused to consider any new revenues, taking a cuts-only method that struck $233.6 million from programs that support children […]
The Middletown Press: Several big Connecticut firms keep offshore subsidiaries for tax purposes
October 14, 2016
“The report, Offshore Shell Games, was compiled by the U.S. Public Interest Research Group, the Institute on Taxation and Economic Policy, and Citizens for Tax Justice.” Read more
Salon: Donald Trump’s tax returns show the American tax code favors the rich
October 5, 2016
“’The real estate [loophole] is a pretty clear and, I think, pretty potent example of a tax break where middle-income Americans look at it and just say, “Well, this doesn’t do anything, this is basically inapplicable to me,”’ said Matthew Gardner, executive director of the Institute on Taxation and Economic Policy. ‘It’s legal; it probably […]
CBS Connecticut: Companies Store Trillions In Offshore Accounts
October 4, 2016
“The study by ConnPirg, the Connecticut Public Interest Research Group, along with the Institute on Taxation and Economic Policy, shows $2.5-trillion squirreled away in offshore accounts.” Read more
WTNH: New report highlights Connecticut companies utilizing tax havens
October 4, 2016
“Matthew Gardner, a spokesperson for the Institute on Taxation and Economic Policy, explained that the only way for the U.S. to get this tax money back would be to adjust the current tax codes.” Read more
Hartford Business: Unusual property-tax experiment given new life
June 7, 2016
“Meanwhile, a national tax expert, Carl Davis of the nonpartisan Institute on Taxation and Economic Policy, said he was unaware of any similar programs in other states, and warned that if the pilot is expanded beyond five towns, it could pit cities and towns against one another and promote business poaching.” Read More
Journal Inquirer: Bonding for Bob’s Discount Furniture, Westport hedge fund raises questions
May 31, 2016
“He cited reports, including one by the nonpartisan Institute on Taxation and Economic Policy that found tax incentives to be “costly for states” and “a drag on national economic growth.”” Read more
Hartford Business Journal: Controversial hedge fund aid passes with little opposition
May 31, 2016
“Lembo highlighted reports, including one by the nonpartisan Institute on Taxation and Economic Policy that found tax incentives are “costly for states” and “a drag on national economic growth.”” Read more
Citizen’s News: Letter: Budget crisis will hurt environment
May 16, 2016
“Most of us pay about 10.5 percent in state and local taxes according to the Institute on Taxation and Economic Policy. Wealthiest residents pay between 5.3 percent and 7.6 percent. Taxing the wealthiest the same as the rest of us would add an additional $3 billion per year. That would solve many problems, including monies […]
CT Post: Former Gov. Rell switching residency to Florida
May 12, 2016
““Property taxes have been a bone of contention for the past decade in Florida,” said Matthew Gardner, executive director of the Institute on Taxation and Economic Policy, a Washington, D.C., think tank. “Everyone seems to agree that their property taxes are too high.” The state and local sales tax in Florida can reach as high […]
Salon: The triumphs & tribulations of a “pragmatic” progressive governor: Inside the world of Dannel Malloy
May 9, 2016
“According to the Center on Budget and Policy Priorities, 69,000 Connecticuters (that’s the official term) were lifted out of poverty each year between 2011 and 2013 by the EITC. Meg Wiehe, a senior policy analyst at the Institute on Taxation and Economic Policy, produced an analysis of the tax changes for showing that Connecticut’s tax […]
Connecticut Voices for Children: Impact of the Governor’s, Republican, and Democrat Proposed FY 2017 Budget on Children and Families
May 2, 2016
“Following hundreds of millions in dollars of cuts to health, human services and education to close a billion dollar budget hole in Fiscal Year 2016 (FY 16), lawmakers are once again facing tough choices as they prepare to close another billion dollar deficit for Fiscal Year 2017 (FY 17), all while staring down deficits of […]
West Hartford News: Another View: Malloy’s new economic reality
April 28, 2016
“According to the Institute on Taxation and Economic Policy’s data for 2015, Connecticut residents who earned between $46,000 and $76,000 paid double the tax rate (10.7 percent) than those who earned $1.3 million or more (5.3 percent). It may be a dirty little secret, but it’s nevertheless the reality of our state; rich folks and […]
Institute on Taxation
and Economic Policy
ITEP is a non-profit, non-partisan tax policy organization. We conduct rigorous analyses of tax and economic proposals and provide data-driven recommendations to shape equitable and sustainable tax systems.
Subscribe to ITEP Emails
Tax research and policy news in your inbox.
Promote Fair Tax Policy
Your gift to ITEP promotes tax justice. With your help, we do research that supports taxing millionaires and billionaires, taxing big corporations and raising revenue for the things our people, our communities and our planet need.
Together, we can create a country with more economic justice, more racial justice, more climate justice… and more tax justice.