The Tax Foundation has released an analysis of Governor Malloy’s proposed tax plan. The report highlights the bills major components and estimates that the plan will cost Connecticut taxpayers more than $400 per resident.
The authors remark that “While it may not be much consolation to Connecticut residents, some of the base broadening would lead to a more comprehensive and neutral sales tax base - a move toward sound tax policy. At the same time, other provisions simply attempt to raise revenue in politically safe but economically dubious ways, as in the cases of the tax increases on cigarettes, alcohol, luxury goods, and goods purchased with coupons.”
You can read OLR’s preliminary analysis of the bill here.
