Connecticut coalition wants higher income taxes, not cuts
HARTFORD — A coalition of labor unions and social services advocates say Connecticut lawmakers should increase income taxes on the wealthy rather than impose spending cuts to cover the governor’s proposed rollback of business tax increases.
Representatives of Better Choices for Connecticut on Thursday called for an additional half of one percent increase on individuals earning more than $500,000 a year or couples earning more than $1 million a year.
The two-year, $40.3 billion Democratic budget as it now stands would create a new top marginal of 6.99 percent.
Gov. Dannel P. Malloy last week called for scaling back $224 million in business taxes. He suggested state lawmakers grant him the authority to cut spending across the board by 1.5 percent or allow the General Assembly to make the spending cuts.