| Earlier this month, I attended 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. This bill 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.
HB 5986 would provide much needed relief to families that are struggling financially. I am proud to co-sponsor this piece of legislation and look forward to following its progress through the legislative process. |