Senator Martin Supports State Budget, Historic Working & Middle Class Tax Cuts & Investments Rooted in Republican Priorities

June 7, 2023

FOR IMMEDIATE RELEASE
June 6, 2023

Media Contact:
Hannah Lemek
860-406-1939
[email protected]

Senator Martin Supports State Budget, Historic Working & Middle Class Tax Cuts & Investments Rooted in Republican Priorities

“Connecticut Republicans Have Driven the State Capitol
Discussion of Tax Cuts and Fiscal Responsibility.”

HARTFORD, CT – Today, Senator Henri Martin (R-Bristol) who serves as Ranking Member on the Finance, Bonding & Revenue Committee, voted in favor of a $51.1 billion biennial budget that provides historic tax relief, protects services for vulnerable residents, and invests in schools and healthcare while abiding by the state’s bipartisan fiscal protections. The State Budget provides $630 million in tax relief to the working and middle class people of Connecticut, largely driven by the hard work of the Senate Republicans.

Senator Martin began, “A better way; this budget helps us on the road toward a better way of spending our constituent’s tax dollars in the most meaningful places. I’d like to highlight Governor Lamont for his demonstration of fiscal discipline. Knowing that we were in dire fiscal straits and knowing he had to do something different, the Governor and his administration recognized a state saddled with debt will have less to invest in its future and slow its economic growth. He introduced a “debt diet” to regulate spending to guarantee a prosperous economy for years to come.”

“Connecticut Republicans have driven the State Capitol discussion of tax cuts and fiscal responsibility,” Senator Republican Minority Leader Kevin Kelly (R-Stratford) said. “Last month, Senate Republicans offered the “$1.5 Billion Back Budget,” the largest proposed tax cut in Connecticut’s history. We pushed for broad-based and impactful tax relief, some of which has been included in the state budget. While the tax cuts included in the budget are helpful to the people of Connecticut, they could have gone further. This was a missed opportunity to provide the largest tax cut in our state’s history and to provide working and middle class people with the necessary relief they deserve.”

“This budget, because of the fiscal restraints we have taken, and the steps Governor Lamont has taken to curb our barrowing and helps encourage economic growth here in our state. We recognize the need to invest in our workforce and our education system. This budget addresses increases in spending in areas where we need it the most. Whether through our local communities in the form of additional Education Cost Sharing (ECS) funding or helping municipalities with their excess cost grant, we invest in our students. It also invests in apprenticeship programs which are critical for our economic growth and expanding workforce development,” Sen. Martin continued.

“We also recognize the importance of childcare and the need to provide childcare to encourage people back into the workforce. It is a challenge to pay for this basic need, and with the cost of living increasing, both parents need to work. The challenging part is how to pay for childcare while also putting food on the table. Families need help, and the budget does just that.”

The State Budget appropriates $25.1 billion in fiscal year 2024 and $26 billion in fiscal year 2025. This reflects a spending increase of $919 million in fiscal year 2024 (a 3.8% increase) and $885 million (a 3.5% increase) in 2025. What does this mean in income tax cuts for the people of Connecticut?

  • A family of four making $125,000 gets $600 back
  • A single mom with two kids making $80,000 gets $300 back
  • A single person earning $40,000 gets $250 back
  • A single parent with one kid making $30,000 gets $220 back

The budget includes funding for education and nonprofits. It appropriates $150 million in additional education funding in FY 2025 and moves the full funding by FY 2026. Nonprofits receive an additional $103 million each year.

The State Budget passed the House of Representatives and the Senate and now heads to the Governor, who pledged to sign it into law.

2023 State Budget Highlights

  • Cuts the income tax
  • Eliminates the retirement income cliff (pension, annuity, and IRA)
  • Nonprofit funding increase of $103.3 million each year
  • Provides $522 million in additional funds for higher education
  • Provides $50 million in each year for childcare for low-income families
  • Includes a 3% increase to tiered PILOT for municipalities
  • Provides $8.5 million for medical debt erasure
  • Increases education funding by $150 million over the current phase-in level in FY 25. Education Cost Sharing (ECS) to be fully funded by FY 26
  • Holds overfunded towns harmless from education reductions
  • Allows returning students to be eligible for Debt-Free College Program
  • Includes $5 million for paraeducator grants
  • Increases certain Medicaid rates
  • Increases income eligibility thresholds for HUSKY C
  • Provides $32 million for federally qualified health centers
  • Provides $33 million for Victims of Crime Act (VOCA)
  • Increases adult complex care to pediatric rate

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HANNAH LEMEK
PRESS SECRETARY
SENATE REPUBLICAN OFFICE

Cell: (860) 406-1939