Perillo Supports CT State Budget Agreement **VIDEO**

(HARTFORD) — On early Tuesday morning, the Connecticut House of Representatives successfully passed the Biennial State Budget Agreement for Fiscal Year 2024-2025. Classified as House Bill 6941, the 832-page budget document was delivered to legislators’ desks at 3:00AM on Monday morning, giving representatives only a few hours to unpack all its details before casting their final vote.

**SEE THE VIDEO**

The $51 billion budget, spent over the course of two years, adopted several aspects proposed by House Republicans since last spring. Arguably the most important of these is tax relief, decreasing the income tax from 5% to 4.5% and 3% to 2%, respectively, freezing the diesel tax, and eliminating the “retirement benefits cliff” by phasing out the income tax exemption for pension and annuity income and individual retirement accounts.

Aside from tax relief, other positive budget ingredients include a $150 million education statewide investment, a one-time bonus in funding to non-profits, a student loan reimbursement program for certain CT residents, and a Fallen Hero account that financially supports families of fallen law enforcement officers. More generally, the budget funds Family Resource Centers and school readiness programs, senior meal delivery services, supports resources for victims of domestic and violent crimes, all while abiding by the bipartisan fiscal guardrails that began in 2017.

“Although I wanted a budget with less spending, I couldn’t ignore the benefits to Shelton,” said State Representative Jason Perillo (R-113) following Tuesday’s early morning vote. “I voted ‘yes’ on this budget specifically because it historically reduces the income tax rate, funds 100% of excess special education costs, makes positive changes to the retirement tax, and provides over $400,000 in new funding to Shelton schools.”

Perillo added, “Even though this is not a perfect document, we cannot miss the opportunity to roll back taxes and secure necessary financial relief for the middle class. Despite this major tax cut, this budget could have implemented more Republican-led proposals that would have confirmed almost double the tax relief, furthered education funding, and implemented a long-term commitment to supporting our non-profits.”

Perillo concluded, “It is important to understand that this budget affects all Connecticut residents. The goal of the state budget agreement is to recognize as many financial needs as possible throughout a fiscal year, which often calls for political compromise. Today, I am happy that Democratic leadership implemented some of our Republican-led proposals, most importantly our push for an income tax reduction, but there is still more work to be done. I am hopeful that our legislature will continue to put forth policies that promote affordability, public safety, and maintain our quality of life.”

For more information on the state budget agreement, or any other state issue, please visit RepPerillo.com or contact Rep. Jason Perillo at Jason.Perillo@housegop.ct.gov or 860-240-8700.