Hartford Courant. May 2022. With $400 million in budget surplus, Democrats in the Connecticut legislature are looking to create a state-level Child Tax Credit (CTC) for the first time in the state’s history. If added, the tax credit would start in FY2023 which begins in July. The proposed budget would also expand the state’s Earned Income Tax Credit (EITC) to 41.5% of the federal credit. 

With $400 million more in tax cuts on the table, Connecticut could see ‘historic tax-cutting budget’