Candelora Rips Democrat Proposed Tax Package

Following a press conference on Wednesday held by Connecticut House and Senate Republicans in opposition of the majority party and Finance Revenue and Bonding Committee’s state budget tax proposal, State Representative Vincent Candelora (R-86) cast his vote against a massive tax hike. This $2 billion massive tax increase is a tough gamble and we absolutely cannot do it without a public hearing, members of the public need to respond, Deputy House Republican Leader Vincent Candelora said. Candelora joined Republican leaders and members of the Finance, Revenue and Bonding Committee in calling for public hearings regarding the introduction of sales tax changes linked to SB 946. This tax plan would lead to a net tax increase of $1.131 billion in FY 16 and $709.3 million in FY 17. The tax increase plan follows the $1.5 billion tax increase passed just four years ago.  It was passed with all Republican members voting in opposition. “People and businesses are already moving out of Connecticut in droves, a $2 billion tax hike will only intensify this problem,” Candelora said. “There is no doubt in my mind that we need to restore critical funding the governor cut in his budget proposal, but increases taxes for everyone in Connecticut is not the answer.” Below are some of the changes linked to the state budget tax proposal:

• Extend the sales tax to new goods and services to pay for non-education municipal aid
• Limit the wide range of local car taxes paid by drivers around the state to our towns and redistribute them around the state
• Dismantle the lock box on the special transportation fund by taking  $25 million for operations
• Delay an increase in the personal exemption for single filers
• Increase the Top Marginal Rate from 6.7 percent to 6.95 percent
• Establish a 2 percent supplemental tax on all capital gains income for
• Extend the surcharge on the Corporate Income Tax
• Reduce the use of credits towards certain taxes
• Delay an increase in the Earned Income Tax Credit

The package also adds a new tax on various professional services and repeals several existing exemptions. Candelora, a member of the Finance, Revenue and Bonding committee, found the tax hike proposal nonsensical as the majority party dominated committee unveiled the specifics during a Wednesday’s committee meeting. “These are not revenues we can rely upon. I find this document highly frustrating and offensive to the taxpayers of Connecticut,” Candelora said. Last week Candelora stood with House and Senate Republicans and unveiled their Blueprint for Prosperity, a budget alternative that does not raise taxes, is balanced, and restores funds to vital social service programs. Candelora during the Finance Revenue and Bonding Committee: http://youtu.be/2PUpgrB_Yu4.