Connecticut HB05081 establishes a new 4% tax rate on personal income over $1 million, dedicating the revenue to education, higher education, child.
Connecticut HB05081 introduces a new tax rate of at least 4% on personal income exceeding $1 million. The revenue from this additional tax will be dedicated to funding education, higher education, child care, and the repair and maintenance of roads, bridges, and public transportation. This bill aims to generate additional funds for these critical areas by targeting higher-income individuals.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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