Connecticut's revenue system is falling short of providing the revenues we need to maintain the public structures that keep Connecticut strong and vibrant, including our education, health, public safety, environmental protection, and transportation systems. This candidate brief reviews problems with Connecticut's state revenue system. In Connecticut, wealthy residents pay a smaller share of their income in state and local taxes than other residents. There is no adequate evaluation of the benefits of the hundreds of millions of dollars in tax credits and other tax preferences given to certain businesses to promote economic development.

Connecticut's revenue system can become more reliable, fair, and accountable through measures such as a more progressive income tax, a state earned income tax credit, reducing our dependence on local property taxes, closing corporate tax loopholes, improving disclosure of corporate tax breaks, and repealing the recent reduction of the gift and estate tax. (July 2010)

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