Connecticut – Democrats To Raise Taxes On These Items

Connecticut’s Democratic Gov. Ned Lamont and state Democrats recently came to agreement on a two-year $43 billion budget planOpens a New Window., which is riddled with a number of new or expanded taxesOpens a New Window. as the state seeks to raise revenue to combat a large projected budget deficit.

Lamont hopes the policies would close a projected budget deficit of about $3.7 billion over the next two fiscal years, though the state will not raise income taxes.

The state also faces massive gap in pension funding.

Here’s a look at what’s included:

Sales tax expansion

The state sales tax rate of 6.35 percent would be expanded to cover a number of new items, including interior design and laundry services, as well as work safety apparel and parking.

Meanwhile, state lawmakers are working on a separate proposal to raise the sales tax to 6.85 percent.

For The Full Story: FOXBUSINESS

fox business | taxes
by brittany de lea
june 12, 2019