6 Reasons Taxes Will Rise on CT’s Middle Class
June 17, 2015The state budget that was narrowly passed by the General Assembly this month raises taxes on the middle class.
1) It repeals the scheduled sales tax exemption for clothing/footwear under $50 and limits the sales tax holiday, imposing a $280 million tax hike on children’s clothing and family necessities.
2) It reduces the Property Tax Credit from $300 to $200 — 66 percent of those who currently use the credit have annual incomes less than $75,000.
3) It delays the scheduled increase in the personal exemption for single filers — 90 percent of whom have incomes of $75,000 or less.
4) It raises taxes on hospitals and adds a new tax to ambulatory surgical centers, which will result in higher health care costs for patients.
5) It reduces Medicaid Provider Rates significantly, likely resulting in a decrease in primary doctors that accept Medicaid coverage.
6) It imposes $700 million in tax hikes on businesses that will have a trickle-down effect, impacting small companies that do business with larger corporations and will have a devastating impact on jobs at all income levels.
Please urge the governor to keep his promise not to raise taxes.
Here’s how:
- SIGN our petition to say “no” to new taxes at www.NoNewCTtaxes.com.
- CALL Governor Malloy’s Office at (800) 406-1527 and tell him to “VETO THIS BUDGET” and stop the tax hikes.