Connecticut Voices for Children released a report that outlines the three, large, coronavirus-related Congressional bills to date. The report, entitled “Federal Efforts to Address the Coronavirus Pandemic & the Ensuing and Precipitous Economic Downturn” examines The Coronavirus Preparedness and Response Supplemental Appropriations Act (P.L. 116-123), which became law on March 6, 2020; The Families First Coronavirus Response Act (P.L. 116-127), which became law on March 18, 2020; The Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136), which became law March 27, 2020; and The Paycheck Protection Program and Health Care Enhancement Act (P.L. 116-139), which became law April 24, 2020. This report, in three parts, describes the key provisions of these federal efforts, with emphasis on those most relevant to Connecticut children and families.
Connecticut Voices for Children released a report that outlines what the state can do to manage a recession and recovery that best supports children and families during and after the COVID-19 crisis. The report, entitled “Supporting Connecticut’s Economy: A Program to Manage the Coronavirus Recession and Recovery,” includes a total of six recommendations. Each recommendation categorized into two buckets: Using Monetary and Fiscal Policy to Support the U.S. Economy, and Using Fiscal Policy to Support Connecticut’s Economy. This report is the first in a series of crisis response reports that will be released over the course of April.
Connecticut Voices for Children released a report entitled ‘Connecticut’s Estate Tax: Addressing Wealth & Income Inequality.’ Connecticut’s estate tax should be one of the most popular taxes in the state. It is a highly progressive tax that falls solely on the ultra-wealthy and raises millions of dollars for the general budget each year. Despite research that shows the estate tax has no real impact on millionaire outmigration, the myth that it does persists. This report argues that the estate tax is good for Connecticut and refutes common arguments in favor of its repeal. In particular, this report shows that the estate tax helps to reduce economic inequality, it helps to limit a major tax loophole that disproportionately benefits the wealthy, and it provides substantial revenue for the general budget.
Connecticut Voices for Children released a report that examined the state’s income and wealth inequality and the state’s regressive tax system that exacerbates these inequalities. For at least the last 75 years, Connecticut has violated the first principle of taxation by disproportionately taxing its working- and middle-class residents. In response to these findings, Voices has developed a set of recommendations that focus on tax fairness. Designed to be ‘revenue neutral,’ the proactive recommendations seek to reverse the state’s regressive and inequitable tax system and, if implemented with urgency, will ensure the health of our state economy for years to come.
Connecticut Voices for Children released a report entitled ‘The State of Working Connecticut’ that examined the status of the state’s workforce and found evidence that Connecticut’s middle class is smaller and less racially and ethnically inclusive than before the 2007 economic downfall.
While the status quo state budget plan approved by policymakers did not offer many bold new investments in children and families, other policy changes approved during this year’s legislative
The state’s final biennial budget for Fiscal Years 2020 and 2021 could be characterized as a status quo budget.
The volatility cap in the Connecticut state budget imposes a threshold for certain types of revenue, above which any excess must be deposited into the Budget Reserve Fund (BRF) and excluded from ge
While the state budget proposals by the General Assembly protect many programs that serve children and families from budget cuts, rigid and counterproductive budget rules are starving schools, infr
Connecticut faces a $4 billion deficit over the Fiscal Years 2020-21 biennial budget.