Connecticut's projected revenue growth is not keeping pace with growth in the cost of maintaining current state services. Unless changes are made, not only will there be insufficient revenues for the increased investments in education, health, energy and infrastructure needed to keep Connecticut competitive in the global economy, but cuts in current spending will be required. Connecticut's state revenue system can become more reliable, fair, and accountable through measures such as a more progressive income tax, a state earned income tax credit, preserving the combined gift/estate tax, reducing our dependence on local property taxes, making business taxes more equitable, and improving disclosure of corporate tax credits and exemptions. (March 2008)

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