Gov. Lamont presents proposals in budget address

Published: Feb. 8, 2023 at 6:24 AM EST|Updated: Feb. 8, 2023 at 8:11 PM EST
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HARTFORD, CT (WFSB) – Connecticut’s governor presented his two-year budget proposal to the General Assembly on Wednesday.

Gov. Ned Lamont delivered a live address around 12:15 p.m.

FULL TRANSCRIPT: Gov. Ned Lamont's 2023 budget address

One of the proposals involved something not seen in the state in 30 years. Monday, Lamont announced plans for the state’s first personal tax rate reduction since 1996.

If that passes, more than million people in Connecticut could see some relief.

Connecticut is in pretty good shape financially, according to Lamont. That’s why he said he is looking to give some money back to residents.

The governor’s new tax cut proposals benefit mainly lower income families, those earning less than $50,000 annually, by increasing the earned income tax credit.

It would also help middle class families that earn less than $150,000. Joint filers would get $600 and single filers, $300.

“As a result of our sound fiscal management – today for the first time in say 30 years – we cut the personal income tax for working families and the middle class,” said Lamont

Lamont said the state has a record surplus and rainy day fund.

Economists said tax breaks will help people pay for necessities. However, the tax cuts would not take effect until next year because tax laws need to be changed.

Lamont will likely need republican support to get all of it done.

“I don’t get food stamps, I don’t have any of those benefits, it comes straight from my check,” said Teniesha Joyner, a health care worker. “I am living from paycheck to paycheck.”

While a huge focus has been put on taxes, Lamont was also expected to talk about childcare and how to boost the workforce in Connecticut.

Stay with Channel 3 for continuing coverage of the governor’s address.

Lamont is expected to propose something we haven’t seen here in Connecticut in almost 30 years.