You Can Participate in CT’s First Tax Policy Review in 25 Years
I’ve often written to let you know about public hearings in the Capitol where you can share with legislators your thoughts and concerns about bills that are under active consideration.
This time I’m writing you about a hearing that is a little different, because it concerns long-term policy, rather than an individual bill. The topic is critical: taxes.
After the two largest tax increases in state history, and the turbulence they have caused in the business community, individuals and business owners all over the state are angry and worried about their growing tax burden and its consequences. It’s urgent and critical to conduct a full-scale review of the state’s tax system, and that is the State Tax Panel’s job. Its goal is not to draft a particular piece of legislation, but to prepare recommendations that may influence tax legislation in Connecticut for years to come.
When the Tax Panel began its work a year ago, State Comptroller Kevin Lembo acknowledged that Connecticut’s annual per capita state tax burden of $2,500 was “well above” the $1,400 national average and was the third highest in the country. He noted that an exhaustive review of the state’s tax code was overdue, as it had been 25 years since the last one, and that such a review would yield insight into the effect of the tax burden on business, among other areas.
Connecticut’s financial situation is precarious, and many of you have told me that you believe our whole tax structure has to change. I hope that the State Tax Panel will leave no stone unturned.
The Public Hearing and Submitting Your Comments
If you would like to propose ideas or solutions for reforming our state tax system, you may testify at the public hearing or submit your comments to the Tax Panel by email.
Submit your comments here: fintestimony@cga.ct.gov
Here are the details for the public hearing:
Where: Room 2E, Legislative Office Building, Hartford
When: Wednesday, September 16, 4-8 pm. Sign-up begins at 2:30 pm outside Room 2E.
While commentary is welcome, recommendations and proposed solutions will receive particular attention.
The State Tax Panel
The bipartisan State Tax Panel, created by law in 2014, is charged with considering and evaluating “options to modernize tax policy, structure and administration with respect to efficiency, cost of administration, equity, reliability, stability and volatility, sufficiency, simplicity, incidence, economic development and competitiveness, employment, affordability, and overall public policy. All such options shall include consideration and evaluation of the impact and extent of such tax policy upon business and consumer decision-making.” It must submit formal recommendations to the legislature before the next session, which begins in February.
The Panel is focusing on four types of taxes: personal income taxes, including estate and gift taxes; business taxes, including excise taxes; consumer taxes; and property taxes. Its co-chairs are former Republican State Senator William Nickerson and former Democratic State Representative William Dyson. None of the other 13 members are current members of the legislature or the administration.
For more information on the State Tax Panel, click here.
As always, please don’t hesitate to contact me if you’d like to discuss tax policy or any other issue further.