General Assembly Proposed Bill No. 5710
January Session, 2011 LCO No. 2170
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
REP. O'BRIEN T., 24th Dist.
General Assembly
Proposed Bill No. 5710
January Session, 2011
LCO No. 2170
Referred to Committee on Finance, Revenue and Bonding
Introduced by:
REP. O'BRIEN T., 24th Dist.
AN ACT CONCERNING THE STATE INCOME TAX TREATMENT OF FEDERAL TAX CUTS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 229 of the general statutes be amended to adjust the personal income tax rates to tax those with incomes in the highest one per cent in the state an amount equal to the difference between their federal tax liability with and without the recently extended federal tax cuts.
Statement of Purpose:
To adjust income tax rates to capture the difference between federal tax liability for wealthy residents with and without the recently extended tax cuts, in order to help offset the loss of federal funding to Connecticut for education and other services.