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Legislature's Progressive Caucus call for wealth tax to bounce back from COVID-19

Labor leaders and some legislators are voicing opposition to policies that would cut state spending to plug budget shortfalls created by coronavirus, instead calling for tax increases on the rich. 

Redding Representative Anne Hughes says there shouldn't be a cut to public services.  Even if Connecticut receives federal funding, she says it wouldn't be enough o replace revenue losses. Connecticut faces a $900 million deficit due to COVID-19.  Hughes says millionaires migrating out of the state and taking their wealth with them is changed by the pandemic.

Advocates of higher taxes face opposition from Republicans and some in their own party.  Hughes says they don’t have a percentage in mind, but it could be a combination of personal wealth and top personal income tax. 

Governor Lamont has said he plans to close budget shortfalls in the short term with spending cuts and by dipping into the state’s rainy day fund.

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