Reps. Pizzuto and Harrison, Republicans Unveil $1.2 Billion Tax Relief Plan for Working- and Middle-Class Families

Cuts Income, Sales and Gas Taxes and Returns Funds to Overtaxed CT Families

State Representatives Cindy Harrison (R-69) and Bill Pizzuto (R-71) today joined House and Senate Republicans to announce a tax relief proposal designed to provide much-needed help to working-and middle-class families struggling to keep up with Connecticut’s already high taxes and now-rising inflation rates.

The $1.2 billion tax relief proposal reduces the state income tax for low- and middle-income families and individuals, reduces the state sales tax and eliminates the meals tax, extends the gas tax suspension, cuts the tax on diesel, expands property tax relief, eliminates the state’s new truck tax, accelerates the elimination of the income tax on pension and annuities, and reduces burdens on job creators.

“Helping taxpayers by enacting our proposed, decisive, and targeted tax reductions will bring immediate relief to tens of every Connecticut resident,” Rep. Harrison said.  “The state’s record surpluses are due to federal relief ARPA funds. It’s disingenuous for the governor and majority party Democrats to act like this temporary funding is a magic wand to be used to create programs while turning a blind eye to the people of our state who have been overtaxed and continue to struggle to pay their bills. It’s their money and should be returned to them.”

“This plan would provide immediate and much-needed relief to the people across my district, and across our entire state, who are struggling to make ends meet as inflation creeps up, costs rise and it gets harder to afford the basic necessities,” Rep. Pizzuto said. “Connecticut residents are hurting and it’s important that we return the money that government took in good faith but now does not need. Cutting the income, sales and use, gasoline and other exorbitant taxes will truly benefit the working and middle-class people who need help the most.”

The Republican plan maintains a balanced budget while returning nearly $1 billion in inflation-related windfall revenue to Connecticut residents.

$1.2 Billion in Tax Relief

The CT Republican plan will:

• Cut the income tax from 5% to 4% for individuals earning less than $75,000 and joint filers earning less than $175,000 annually.
• Reduce the sales tax and eliminate the 1% meals tax through the end of the year.
• Extend the gas tax suspension, scheduled to expire at the end of June, to the end of the year.
• Expand the gas tax holiday to diesel.
• Eliminate the highway use tax, a mileage tax on trucks that will increase the price of food and products transported by truck.
• Eliminate the income tax on pension and annuities
• Expand eligibility for the state’s property tax credit.
• Reduce new tax burdens on job creators by helping to pay back the state’s federal loan to support the state’s unemployment trust fund, removing barriers to job creation.

You can read the full plan at www.affordableconnecticut.com/