Recent history has demonstrated that we cannot simply tax our way out of Connecticut’s current fiscal crisis. Instead, we need to be creative with tax policy so that we smartly incentivize pro-growth initiatives and make reforms where needed. As Governor, I will increase tax credits that encourage jobs, research, and economic growth and lower or get rid of tax credits that do not promote economic growth.
Specifically, I support:
- A first-time homebuyer tax credit that is tiered to incentivize people to move into economically depressed areas. Homeownership should be an achievable goal for Connecticut residents. Incentivizing homeownership in economically depressed areas will help begin to build interest in and revitalize the areas of our state that need it the most.
- Income tax credits for up to the first five years after graduating for recent graduates of in-state colleges and in-state vocational programs who stay to live in the state. We need to strengthen Connecticut’s ties to the thousands of students who graduate from our world-class colleges and universities and obtain certifications from trade and technical programs every year. Offering financial incentives for those graduates who choose to become part of Connecticut’s future will have long-lasting benefits for the state’s growth.
- Tax credits for employers who offer paid family leave. Our younger workers – the ones we want to retain and attract, who are the future of Connecticut – value paid family leave. It’s time Connecticut becomes a national leader on the issue by encouraging businesses to adopt paid family leave policies that will attract our next generation workforce.
- Tax Policies that ensure that our seniors view Connecticut as an economically-viable place to retire; including property tax relief focused on our middle-class and low-income seniors so they can remain in Connecticut when they retire and further consideration of the estate tax.