Operation Fuel Ready to Help with Utility BillsAugust 20, 2021
This session I worked alongside my colleagues to pass a bipartisan budget which did not raise taxes, and focused on putting more money in the pockets of hard-working Connecticut families through increased tax credits.
Under the newly enacted budget, the Earned Income Tax Credit increased from 23% to 30.5%.
The Connecticut Earned Income Tax Credit is a refundable state income tax credit for working individuals and families. Qualifying Connecticut workers can now deduct 30.5% of their earned income from their annual state taxes. To qualify, individuals must have an adjusted gross income that is less than:
This increase will result in an additional $40 million delivered to the nearly 195,000 eligible households to assist with necessary expenses such as groceries, transportation, housing and more.