HB05117

An Act Establishing An Additional Marginal Rate For The Personal Income Tax And Dedicating The Revenue Generated To Certain Purposes.

Introduced·2/10/26
Hb Text

Establishes a 4% marginal tax rate on personal income over $1 million, dedicating revenue to education, child care, and infrastructure.

Connecticut HB05117 establishes a 4% marginal tax rate on personal income exceeding $1 million. The revenue generated from this tax would be dedicated to education, including universal school meals, school construction, higher education, and free public colleges and universities. It also supports child care, higher wages for child care workers, and provides baby supplies for new parents. Additionally, the revenue would fund the repair and maintenance of roads, bridges, and public transportation.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Finance, Revenue and Bonding Committee
Next
Committee decision

Sponsors

D
1
0
Democratic CaucusRepublican Caucus

History

Feb 10

House

Referred to Joint Committee on Finance, Revenue and Bonding