By Kathy Kennedy
State Rep., R-119
Kathy Kennedy
I’m sure everyone is feeling the economic pain I’m feeling. Connecticut is unaffordable and growing more unaffordable by the day. Families are being forced to make tough decisions on purchases of food, fuel and clothes.
At the same time, Connecticut is overtaxing its residents to the tune of over $4 billion. While state revenues surge because of inflation, household budgets are strained to the breaking point. Remember, the state makes money from higher prices because it collects more in sales tax revenue. We believe this over-taxation of state residents must be returned to taxpayers.
During the 2022 legislative session, Connecticut Republicans proposed a $1.2 billion tax relief plan that would have provided immediate, significant and long-term tax relief to Connecticut’s working- and middle-class families facing historic inflation.
The majority party voted against our historic tax relief package during the regular legislative session, instead opting for only short-term rebates for a select few. Meanwhile, the pain has not stopped for Connecticut families.
Contrary to what has been billed by some as “great economic news,” the Democratic budget proposal that passed was a missed opportunity to provide residents of Connecticut with much more significant and lasting tax relief.
Since the state budget adjustment passed, state revenues have grown even further. As government gets richer, Milford and Orange families are only experiencing more financial pain and they need further relief.
To provide families tax relief, we have also proposed to lower the income tax rate from 5 percent to 4 percent for individuals earning less than $75,000 and joint filers earning less than $175,000 annually. This will help working families keep more of what they earn.
Adding insult to injury, the state Department of Revenue Services is expected within the next two weeks to announce a major increase in the state’s diesel tax, effective July 1 and driven by rise in wholesale fuel prices over the past year.
Let’s not forget: everything we buy comes by truck. That is why Republicans have called for the elimination the entire state excise tax on diesel through the end of 2022. I have also called for the repeal of the highway use tax on trucks which starts on Jan. 1, 2023. State government can make these modest changes to help out Connecticut families.
To read more about our historic tax relief plan for Connecticut families, go to affordableconnecticut.com.
As always, please contact me should you have any questions about this important issue or concerns on any other topics relating to state government at Kathy.Kennedy@housegop.ct.gov or at 800-842-1423.