On Tuesday, I joined over 60 House Democrats for a press conference to support HB 5986 - An Act Establishing a Refundable Child Tax Credit against the Personal Income Tax.
Connecticut is one of the only high cost-of-living states that does not adjust personal income tax for the number of children or childcare expenses. HB 5986 would change that by establishing a permanent refundable child tax credit against the personal income tax for up to three children, in the amount of $600 per child, for tax filers with a federal adjusted gross income of $100,000 or less for single filers or $200,000 or less for married individuals filing jointly. For every $1 in child tax credits, a family spends $1.38 in the local economy.
Nearly 40% of Connecticut families are struggling financially – HB 5986 will provide much needed relief to those who need it. |