News From Kevin Lembo

COMPTROLLER LEMBO'S STATEMENT ON MULTI-STATE COALITION TO FIGHT FOR FAIRNESS IN FEDERAL TAXATION

FOR IMMEDIATE RELEASE  FRIDAY, JANUARY 26, 2018

Contact: Tara Downes
631-834-5234
Tara.Downes@ct.gov

“Today’s announcement - that Connecticut and its northeast neighbors will not tolerate federal taxation that grossly and disproportionately burdens our states over most others - is an important step and I commend Governors Malloy, Cuomo and Murphy for their action.

“Connecticut pays more federal taxes per capita than any state in the nation - making it a so-called ‘donor state,’ according to a recent report by Federal Funds Information for States (FFIS). While places like Mississippi, Alabama, West Virginia, New Mexico and the District of Columbia receive far more federal dollars than they pay, Connecticut receives only 87 cents back for every tax dollar sent to Washington, D.C. (ranking Connecticut 46th in what it receives in per-capita federal spending).

“New federal tax changes will now worsen this disparity and likely have long-term consequences for states like Connecticut, impairing the ability of Connecticut state and local governments to afford essential investments in infrastructure, education and workforce training that are necessary to drive economic growth.

“These federal tax changes raise basic questions of fairness for high-income states like Connecticut and fly in the face of the tax bill’s stated goals.”

 

***END***

download release as a PDF