I want to cut your taxes. That is my main goal this year.
Connecticut families continue to be impacted by historic inflation, affecting nearly every aspect of daily life. My colleagues and I remain committed to finding ways to put money back into your pockets.
In April, we suspended the state's 25-cent gas tax and offered free bus rides on CT public transit through June, while also establishing an additional sales tax-free week for shoe and clothing items under $100.
While these efforts offered immediate assistance to you and your families, we are continuing our work in the legislature to offer nearly $400 million in tax cuts in the upcoming state budget.
While we continue to work on and negotiate details of the budget, the current budget draft reflects our ongoing commitment to lowering property taxes and offering additional tax cuts to Connecticut residents:
- Bigger state income tax breaks for more homeowners
- Increases the property tax credit and expands the number of taxpayers who may claim the credit for the 2022 tax year by eliminating the provision restricting its eligibility to seniors and people with dependents.
- More income tax cuts for retirees
- Accelerates the phase-in of the pension and annuity income tax exemption by allowing qualifying taxpayers to deduct 100% of their eligible income beginning with the 2022 tax year.
- More tax relief for student loan debt
- Expands the eligible loans for purposes of the state’s employer student loan tax credit to include any loans issued by the Connecticut Higher Education Supplemental Loan Authority and authorizes small businesses to apply to the DRS commissioner to exchange the credit for a refund.
- $100 million in local tax relief for car owners
- In towns with the highest taxes, we're putting more savings into your pocket.