House
Republican Press Release
January 30,
2008
Press
Office: 860-240-8700
Tax Credits would benefit
Middle Income Taxpayers Squeezed by High Home Heating, Health Care Costs
Most middle class individuals
and families squeezed by skyrocketing health care and home heating expenses
would get a significant reduction in their state income tax liability if tax
credits proposed today by House Republicans become law, said state Representatives
Anthony J. D’Amelio and Selim Noujaim.
The House Republican proposals
were unveiled at a news conference today at the Legislative Office Building in Hartford.
“If the economic downturn many
are predicting hits our state within the next few months, the tax credits we
proposed today will come as welcome relief to middle class taxpayers in
Waterbury, Middlebury and elsewhere in Connecticut who already are struggling
to cope with the increasingly high costs of health care and heating their
homes,” said Representative D’Amelio, R-71st District, who
participated in the news conference.
“The tax credits we developed
were offered in good faith as a way to help relieve two of the most burdensome
expenses shouldered by middle income taxpayers in Connecticut. They are similar
in spirit to proposals presented by the Senate Democratic caucus earlier this
week, some of which our caucus has supported for years,” said Representative
Noujaim, R-74th District.
“It is our hope that Republican
and Democratic legislators can agree on a non-partisan package for middle class
and business tax relief consisting of the best proposals developed by all four
caucuses and pass them as soon as possible,” the legislators said.
For the short term, Republicans
outlined a specific timetable of public hearings and various committee reviews
that could produce a bipartisan, comprehensive relief package by March 19.
Republicans proposed using roughly $200 million of the state’s $263 million
surplus to:
- Provide maximum income tax
credits of up to $500 per household for joint filers earning up to
$150,000 for home heating assistance;
- Provide similar maximum $500
income tax credits to offset out-of-pocket medical costs.
