Gov. Ned Lamont is floating the idea of an income tax reduction for Connecticut residents who make between $150,000 and $200,000 annually.
In an interview with the Hartford Business Journal, Lamont said he was considering the inclusion of the tax cut in the budget proposal he will put forth when the new legislative session begins next month. He also floated the idea of sunsetting a corporate tax surcharge.
“We”™ve got a lot of rebates, a lot of credits, a lot of one-off ways that we provided immediate support to people, especially in this last year with high rates of inflation,” Lamont said. “I”™d like to think that now it”™s a lot simpler if we provide a middle-class tax cut, that”™d be an income tax cut for people up to a certain amount, say 150,000 or 200,000.”
“I don”™t want to do anything we can”™t afford and I don”™t want to do anything that leaves us a cliff, you know, two years out,” he added. “That”™s often the way it works around here and I”™m not going to let that happen, but I think we can provide some middle-class relief which I think is long overdue.”
