April 21, 2016

CT Residents Still Have the Highest Tax Burden in the U.S.

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…and it’s getting worse!

According to the Tax Foundation, a non-partisan tax research group, Connecticut continues to have the latest “Tax Freedom Day” of any state in the nation. Tax Freedom Day is the day each year when the average citizen has made enough money to pay their combined local, state and federal tax bills.

With the highest tax burden per capita of any state in the nation, it’s no wonder our Tax Freedom Day comes later than any other state: May 21. That’s eight days later than last year.

To put it into perspective, each of us will spend more on taxes in 2016 than we will on food, clothing and housing combined.

The state budget is perpetually in crisis, with a deficit for the next fiscal year estimated at $930 million by the non-partisan Office of Fiscal Analysis.

Until state leaders curb spending, create a stable tax and regulatory landscape and stop passing legislation that fuels Connecticut’s anti-business climate, we will continue to suffer from a lagging economy and shrinking workforce.

I will continue to work hard this session to change the unfortunate direction Governor Malloy and the legislative majority party have taken this state.

As always, please feel free to contact me if you have any questions or concerns.