CBIA Reaction to Gov. Lamont’s Proposed Tax Package

The state’s largest business organization today issued the following response to Gov. Ned Lamont’s proposed $336 million tax package.

“While it is always great to be discussing tax cuts instead of tax hikes, this proposal represents just a part of the solution for ensuring a robust economic recovery,” CBIA president and CEO Chris DiPentima said today.

“Too many of Connecticut’s small businesses—critical to our recovery prospects—are struggling and desperately need support to address the labor shortage, inflation, pending tax increases to repay monies borrowed to keep the unemployment fund solvent, and numerous other challenges.

“Making Connecticut more affordable is essential for keeping current residents and attracting new ones to grow our tax base and workforce, and the Governor’s proposals provide some measure of relief for individual taxpayers.

“However, that is only part of the overall prescription needed to bring back jobs and drive an economic recovery with opportunities for all.

“CBIA’s 2022 Policy Priorities highlight key areas of relief for small businesses, including expanding the manufacturing apprenticeship tax credit and R&D tax credit programs, exempting workforce training from the sales tax, and restoring the pass-through entity tax credit.”

CBIA is Connecticut’s largest business organization, with thousands of member companies, small and large, representing a diverse range of industries from every part of the state. For more information, please contact Ali Warshavsky (860.244.1929).