Posted on March 15, 2019 by admin
Tomorrow, the Finance, Revenue & Bonding and Planning & Development Committees will hold public hearings about bills that would have major consequences for Connecticut taxpayers, businesses, students, parents and our local communities as a whole.
S.B. 877: An Act Concerning Revenue Items to Implement the Governor’s Budget
This bill deals with the implementation of the Governor’s budget plan, namely the taxes that will be used to fund it. Below are some highlights:
· Expanding the sales tax to goods and services currently exempt. Such items include legal and accounting services, veterinary services, non-prescription drugs, home renovations, and winter boat storage, among others. Click here for a full list.
· Elimination of the popular sales “tax-free” week, which is typically held just prior to the start of school
· Elimination of the tax exemption for Social Security and pension/annuity income for qualified individuals, which was also passed with bipartisan support last year
When you throw tolls and other new taxes into the mix, which are also on the docket for 2019, the potential impact on Connecticut’s economy, especially the middle class, is alarming.
S.B. 431: An Act Concerning Property Tax Reform
Democratic Senate President Pro Tempore Martin Looney has proposed a bill that would create a statewide one mill tax on real property, which would be in addition to our local property taxes. The proposal would also prohibit towns from collecting taxes on motor vehicles. Instead, the state would implement a tax on all cars ranging from 15 to 19 mills. Preventing towns from controlling this revenue will affect their ability to plan ahead and properly budget.
H.B. 6031: An Act Phasing-Out the Estate Tax
During the last budget cycle, we secured a major bipartisan tax reform when we realigned Connecticut’s estate tax rate with the much more favorable federal levels. This year, I proposed a bill similar to H.B. 6031, which would completely eliminate the estate tax. This is a good bill to support as it will provide needed relief to small business owners and retirees.
H.B. 7319: An Act Concerning Fiscal Independence of School Districts
This proposal would give any school district, whether local or regional, the power to assess, levy and collect taxes for educational purposes. It would also give them the ability to issue bonds and allocate funds for the same reason. Unfortunately, like Sen. Looney’s proposal for motor vehicle tax reform, this bill would prohibit local governments from generating revenue to support their school systems since this authority would now rest with the districts.
I encourage you to submit testimony on any and all of these proposals. This is your opportunity to make your voices heard and participate in the conversation about the future of Connecticut. Below I’ve provided some useful links if you plan to testify.
· Page 5 for Finance, Revenue & Bonding
· Page 9 & 10 for Planning & Development
If you wish to discuss any of these bills in greater detail, I am more than happy to speak with you.
Phone: (800) 842-1423