A huge THANK YOU 2 the Finance, Revenue & Bonding Committee 4 voting out so many great bills that, if passed, will combat income & wealth inequality in #CT! An even BIGGER THANK YOU 2 our partners & amazing advocates that worked 2 advance these bills. Nothing happens alone. 1/🧵
HB 5403: AA Establishing a #CTC Against the Personal Income Tax would create the state's first credit, exemption, or deduction 4👶. If passed, this bill will provide $600/child (up to 3 kids)—that's real💵in your pockets! This is tax relief 4 families that will make a difference.
4 CT 2 stay on course 4 an equitable recovery, parents in the state need substantive tax relief NOW 2 help offset the high cost of raising👶. CT is the only high cost of living state w/ an income tax that doesn't adjust 4 family size or the high &⬆️cost of child care expenses.
This is wrong & it’s compounded by the fact that #ChildCare in CT is expensive & the price 4 care is⬆️. Too many parents are left out of CT's labor force because they are unable 2 afford child care, & this barrier has only grown during the pandemic.
High-quality child care needs 2 be resourced AND parents w/👶also need help paying 4 it. If passed, SB 487: AAC Establishing the Infant & Toddler Early Care & Family Support Initiative will provide needed financial relief 4 providers & HB 5403 helps families afford child care.
Together, these bills support👶develop & grow + support parents 2 re-engage in the workforce—both are important 4 an equitable economic recovery. But even this isn't enough help 4 the poorest residents in our state, which is why⬆️the CT #EITC is critical.
According 2 a report by @uwwesternct, 42% of CT’s👶live in🏘️dealing w/ financial hardship. 72% of Black children & 67% of Hispanic children live in🏘️that can’t afford the cost of living. SB 383: AA Increasing the Applicable % of the #EITC helps families pay 4 basic necessities.
What's more, research shows that the combination of the #EITC & #CTC have powerful, positive impacts on children & families living in poverty. @KReeseMD wrote about how these tax credits (aka more💵in the pockets of CT families) work in tandem. (Link⬇️) x.com/kreesemd/statu…
Fighting income & wealth inequality begins w/ knowing the data. SB 443: AA Concerning the Tax Incidence Report, Tax Incidence Analysis & the Disclosure of Returns provides needed transparency 4 residents AND policymakers so our laws are fact-based. (Link⬇️)x.com/ctvoices/statu…
Fighting income & wealth inequality begins w/ knowing the data. SB 443: AA Concerning the Tax Incidence Report, Tax Incidence Analysis & the Disclosure of Returns provides needed transparency 4 residents AND policymakers so our laws are fact-based. (Link⬇️)x.com/ctvoices/statu…
A LOT more work is left! You can start by calling your legislators & the Governor & ask them 2 advance ALL of these bills. Click on the link below 2 find your State Representative & State Senator... cga.ct.gov/asp/menu/cgafi…
... Then, call the #s listed below & ask 4 their support of HB 5403, SB 487, SB 383, SB 443: •Governor's Office: (860) 566-4840 •House Democrats: (860) 240-8500 •House Republicans: (860) 240-8700 •Senate Democrats: (860) 240-8600 •Senate Republicans: (860) 240-8800 /End