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Hartford— Governor Ned Lamont delivered a budget address to a Joint House Session on Wednesday, February 8. The two-year $50.5 billion budget includes an extension of the guardrails Lamont and lawmakers put in place during the 2017 bipartisan budget negotiations, including the spending cap, revenue cap, volatility cap, and bond lock.
Representative Patrick Callahan (R-New Fairfield) is a member of the legislature’s Appropriations Committee.
“I was pleased to hear a conservative approach to the tax proposals included in the budget address, but we have to wait to see what is actually in the document,” said Callahan
Currently, Connecticut taxes families for 3% of their first $20,000 in income and 5% of their income up to $100,000 a year. In his speech, Lamont proposed cutting the current 5% rate by 10% and 3% rate by a third. The address on the two-year, approximately $24.5-plus billion budget, included few details about housing, child care and education initiatives.
