Gov. Lamont Signs CT Budget Bill Into Law

CONNECTICUT — Gov. Ned Lamont signed the state budget adjustment bill into law today. The law includes more than $600 million in tax cuts.

Lamont hailed the bill as the largest single tax cut in state history. It will also pay down about $3.3 billion in unfunded liabilities and make investments in childcare, crime prevention and environmental protection, he said.

The state Senate voted 24-12 with mostly Democratic senators in favor and Republicans opposed. Two Republicans voted in favor and one Democratic senator opposed. The bill passed the House along party lines.

The bill establishes a one-time $250 per-child tax credit for up to three children for most Connecticut families. There is an income eligibility cap of $100,000 for individual filers and $200,000 for couples filing jointly.

Connecticut's gas tax holiday will be extended until the beginning of December.

The property tax credit would increase from $200 to $300 and be expanded to cover more people. Taxpayers currently need to have a dependent or be a senior citizen to qualify.

Car taxes would be capped at 32.46 mills with the state making up the difference for municipalities.

Pensions and annuities won't be subject to the state income tax under the bill.