Ned Lamont on Tax Reform

	Ned Lamont on Tax Reform Democratic Challenger

We have eliminated the estate tax for 99% of our citizens

Our tax credit for working families and $400 million tax cut for middle-class families should be adding about $25 per paycheck. Our income tax is less than our neighboring states, and less than most sunbelt states for the majority of our workers. We have eliminated the tax on pensions and 401(k)s for most retirees, and we have eliminated the estate tax for 99% of our citizens. We still have work to do on the property tax, which hits residents on fixed incomes the hardest. Source: 2024 State of the State Address to Connecticut legislature , Feb 7, 2024

I don't want more taxes, I want more taxpayers

Our future is more local businesses and more housing options in your downtown ? walk to work or take faster public transit. You've heard me say it before, "I don't want more taxes, I want more taxpayers." More taxpayers will guarantee a bigger economic pie that lets us keep up the progress in progressive. The next generation in Connecticut is all about opportunity, and that opportunity starts with economic growth. Source: 2023 State of the State Address to Connecticut legislature , Jan 4, 2023

Now is the time to enact a meaningful middle-class tax cut

Thanks to our collective efforts, the era of Connecticut's permanent fiscal crisis is over. It's over as long as we maintain the same fiscal discipline that served us so well over the last four years. After many years of unfilled promises, now is the time to enact a meaningful middle-class tax cut. That's a reduction in tax rates, which the state can afford and makes your life more affordable. Source: 2023 State of the State Address to Connecticut legislature , Jan 4, 2023

Expand business tax credit to repay employee student loans

I want students and trainees to take a job in Connecticut, and I want Connecticut employers to hire from Connecticut first! To encourage that, we're expanding a tax credit for small businesses that help repay their employees' student loans. More reasons for your business to hire in Connecticut, and for graduates to stay in Connecticut--that's the Connecticut difference. Source: 2022 State of the State Address to Connecticut legislature , Feb 9, 2022

Eliminate income tax on pension and 401K income for most

The current property tax credit is too limited, so we're going to double the number of families who can claim it. We're also going cut taxes on automobiles. That's going to reduce car tax bills in more than 100 towns, often by hundreds of dollars per car! We're also going to eliminate the income tax on pension and 401K income for most households. Stay in Connecticut and watch your grandkids grow up in your living room rather than waving to them from a Zoom room in Delray, Florida. Source: 2022 State of the State Address to Connecticut legislature , Feb 9, 2022

Middle-class gets hammered by $800B federal deficit

If he's elected governor, Democrat Ned Lamont said that he would help fight a new federal tax law that will hurt homeowners who pay more than $10,000 in state and local taxes.

Lamont linked President Trump's budget with Republican candidate for governor Bob Stefanowski of Madison, saying that Trump's plan forces the federal budget into a $800-billion increase in the federal deficit.

"It's the middle-class, the working class that gets hammered by a tax bill like this," Lamont said, noting that tax deductions go back to the tenure of another Republican President: Abraham Lincoln. "You think about this Trump tax bill. It reminds me a little of the (proposed) Stefanowski elimination of the state income tax. We cannot borrow in this state. We must pay our bills."

"Ned concentrating on state and local deductions ignores the root of the problem, which is that he and Dan Malloy have supported tax increase after tax increase," said a Stefanowski spokesman.

Source: CT Post on 2018 Connecticut gubernatorial race , Aug 29, 2018

Estate tax essential to progressive taxation system

The estate tax is an essential part of a progressive taxation system. The estate tax applies to just 0.5% of all estates, and those worth more than $4 million per couple. Weakening or eliminating the estate tax benefits the wealthiest one percent of Americans, and comes at the expense of investing in our communities, citizens, and security. I will oppose any efforts, from either side of the aisle, to further undermine the financial health of this country by weakening or eliminating the estate tax. Source: 2006 Senate campaign website, www.nedlamon.com, "Issues" , Jun 17, 2006

Push back against the ill-advised tax cuts

Q: What specific policy differences do you have with Senator Lieberman?

A: I believe that we as the Democratic party should and I as a senator would push back against some terrible policies, starting with the wrong headed invasion of Iraq and ill-advised tax cuts, and stand up forcefully for a Democratic agenda, which includes healthcare reform, education reform, and energy conservation [among other things].

Source: CT Local Politics blogspot, "Six Questions for Ned Lamont" , Jan 17, 2006

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