(photo) Sen. Hwang Backs Historic CT Tax Cuts & Key Investments in Education, Healthcare, Non-Profits

May 10, 2023

For Immediate Release:

Sen. Hwang & Senate Republicans Propose

Historic CT Income & Property Tax Cuts

Senate Republican proposal prioritizes middle class affordability and tax cuts while making significant budgetary investments in education/special education, healthcare and community non-profits.

Sen. Tony Hwang joined fellow Senate Republicans in presenting a balanced budget proposal that provides the largest income tax and property tax cuts in Connecticut history while adding significant funding for non-profit health and human services providers, education/special education and healthcare. The “$1.5 Billion Back” budget proposal emphasizes middle class affordability while living within the state’s established spending guardrails.

“This historic tax cut proposal reflects my respect for struggling Connecticut taxpayers,” Sen. Hwang said. “My priority is to support and protect safety net services for our most vulnerable residents. This budget proposal provides our non-profit health and human services providers with an additional $100 million allocation.  That’s a much-needed injection of funding which represents a 2.5 % increase. I hope this thoughtful and responsible plan gains bipartisan support.”

Sen. Hwang recently met with leaders of Ability Beyond, the state’s second largest provider of services for people with disabilities, to discuss the critical need for additional funding for disability services.  Sen. Hwang said he would take their message back to his colleagues in Hartford.

“Ability Beyond does incredible work, and we are doing all we can to help our non-profits provide vital services to people in need,” Sen. Hwang said.

In addition to boosting funding for non-profit providers, the budget proposal:

  • Provides total middle class tax relief of over $1.52 billion
  • Continues the full phase-in of local education funding by 2028 (that’s an additional $48 million in year one of the budget and $96 million in year two of the budget)
  • Fully-funds aid to cities and towns for special education excess costs
  • Creates a reinsurance program that will reduce household healthcare costs up to $7,000 per year
  • Begins to move public policy charges off energy bills and onto the state budget for increased transparency
  • Pays down the state’s long-term debt by more than $2 billion.
  • Provides a $325 million retroactive reduction in the state income tax middle-class income tax cut with additional relief for seniors
  • Provides a $2,000 per child tax deduction.
  • Nearly doubles access to the $300 property tax credit
  • Exempts children’s clothing under $100 from sales tax

“We are investing in our schools, our teachers and our students,” Sen. Hwang said. “We are making healthcare more affordable and accessible. At the same time, we are providing historic property tax and income tax cuts that will put more money back into working and middle class families’ wallets.  This is a plan which has been thoroughly vetted by non-partisan budget analysts, and I am proud to put forth Senate Republicans’ vision and priorities for Connecticut.  Our plan respects Connecticut taxpayers while maintaining our social safety net and educational programs.”

Details of the plan can be found at CTSenateRepublicans.com

*Senator Tony Hwang is a Chief Deputy Senate Republican Leader in the Connecticut General Assembly representing Newtown, Sandy Hook, Easton, Fairfield and portions of Bethel.  On the web: SenatorHwang.com