House Approves Bipartisan Budget Plan
Hartford—A $51 billion, two-year bipartisan budget was approved by the House on a vote of 139-12.
State Representative Bill Pizzuto (R-71) voted in favor of broad-based tax relief to Connecticut residents. The budget reduces the income tax from 5% to 4.50% and 3% to 2% and eliminates the benefits cliff by phasing out the income tax exemption for pension & annuity income and individual retirement accounts.
“I’m pleased that this plan also makes historic investments in education and provides more funding for nonprofit providers. This budget plan will help families, businesses, and nonprofits,” said Pizzuto.
There is a provision in the budget bill that would block a controversial proposed development in Middlebury.
The provision would prohibit zoning approval of a warehousing or distribution facility of more than 100,000 square feet in a town of less than 8,000 people if the facility is located on one or more parcels of land that are less than 250 acres in total, contain more than five acres of wetlands in total, and are located within two miles of an elementary school.
“There’s been a lot of resistance in town to the proposed distribution/warehouse type facility for the site of the former world headquarters of Timex Corp.,” said Pizzuto.
- Increases the EITC for working families from 30.5% to 40%
- Freezes the diesel tax at 49.2 cents per gallon for one year and won’t be recalculated per statue by the Department of Revenue Services effective in FY 24
- Fully funds the Excess Cost grants for special education reimbursements to towns
- Creates a new Fallen Hero account with Comptroller that will provide $100,000 death benefit to the family if a police officer is killed in the line of duty