Historic Tax Relief for CT Residents

May 3, 2022


 
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Dear Neighbor,

After months of negotiation and hearing input from residents across our state, I am happy to pass along great news. On Monday, the House of Representatives passed the state budget proposal which provides $600 million in historic tax relief to meet this moment of need for so many residents in our state. It also makes vital investments in our municipalities, nonprofits, child care providers, and more.
 To help you understand exactly what is contained in this agreement and how it will support you and your family, I want to share the following summary:
State Budget Overview
  • Cuts state income taxes for retirees
  • Lowers property taxes on homes and cars
  • Extends tax cuts for workers in low-paying jobs (EITC)
  • Establishes the first state child tax credit for income-eligible taxpayers for up to 3 dependent children under age 16
  • Extends 25-cent cut to gas tax and extends free bus service until December
  • Makes a historic $3.5 billion payment to CT's pension debt, saving taxpayers considerable money
  • Provides a significant tax break for businesses on unemployment insurance
  • Offers health insurance coverage to children under 12, regardless of immigration status

State Funding for West Hartford

  • $25,871,045 in total funding for West Hartford during the 2023 fiscal year
    • $22,253,668 for West Hartford Public Schools
    • $1,590,998 for PILOT (Payment in Lieu of Local Property Taxes) 
  • $10 million for the Children's Museum
  • $100,000 for Noah Webster House
  • $15,000 for Playhouse on Park
  • $10,000 for Senior Jobs Bank
This budget cuts taxes more than any other Connecticut state budget in decades. As a member of the Finance Committee, I’ve worked throughout this session to pass tax relief that starts to create a fairer tax system for everyone to thrive. The budget also makes groundbreaking investments in children’s mental health, increases funding in juvenile justice programs, leverages new federal funding for important programs, and invests in childcare, education, and our workforce.

The proposal now goes to the Senate for consideration.
 
Stay tuned for another update this week on legislative business as session ends at midnight on May 4th!
As always, if I can be of assistance to you and your family, please reach out to me at 860-240-8585 or email me at Kate.Farrar@cga.ct.gov. Follow @KateforCT on Facebook, Twitter, and Instagram to stay up-to-date on everything I'm doing at the Capitol!

Sincerely,

Kate Farrar
State Representative
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