Historic Tax Relief for CT Residents

May 4, 2022


 
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Dear Friends and Neighbors,

After months of negotiation and hearing input from residents across our state, I am happy to pass along great news. The House of Representatives and the Senate approved the $24 billion state budget proposal which provides $600 million in tax relief for working families. The budget cuts taxes more than any other Connecticut state budget in decades. 

This budget provides Torrington with $31,809,854 in total state funding during the 2023 fiscal year. This is an increase of $1,048,593. Our city will also receive $28,938,033 in funding for Torrington Public Schools. Additionally, this budget includes funding for the following Torrington initiatives:
  • $179,575,000 for construction of the new Torrington Middle and High School – this represents a reimbursement rate of 85 percent
  • $100,000 for the Sullivan Senior Center
  • $81,367 for the Torrington Fire Training School

I am particularly pleased to see $800,000 is included for the Firefighters Cancer Relief Fund, which provides workers' compensation benefits to current and retired firefighters who develop certain kinds of cancer as a result of performing their jobs.

In addition to municipal funding, the budget package also makes groundbreaking investments in children’s mental health, increases funding for juvenile justice programs, leverages new federal funding for important programs, and invests in childcare, education, and our workforce. 

This budget will:

  • Cut state income taxes for retirees
  • Lower property taxes on homes and cars
  • Extend tax cuts for workers in low-paying jobs (EITC)
  • Increase funding for our community non-profits
  • Create a state tax credit for childcare
  • Extend the 25-cent cut to gas tax and free bus service until December
  • Establish a state child tax credit for income-eligible taxpayers for up to 3 dependent children under age 16
  • Make a $3.5 billion payment to CT's pension debt, saving taxpayers considerable money
  • Provide a significant tax break for businesses on unemployment insurance

The past two years have been difficult, as we've faced economic challenges through an ongoing pandemic and now record high rates of inflation. The budget plan we've put forth works to maintain our economic recovery and improve the quality of life for all residents.  

As always, if I can be of assistance to you and your family, please don't hesitate to reach out to me at the Capitol at 860-240-8585 or email me at Michelle.Cook@cga.ct.gov. Don't forget to like my Facebook page for news and legislative updates!

Sincerely,

Michelle Cook

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