Senator Boucher Responds to Democrat Speaker of the House’s call for New Tax Rate on Capital Gains

Report by Paula Antolini
April 3, 2017 11:29AM EDT

Senator Boucher Responds to Democrat Speaker of the House’s call for New Tax Rate on Capital Gains 

State Senator Toni Boucher (R-26) today responded to comments from Connecticut’s Democrat Speaker of the House calling for more tax increases on state residents, including a possible new tax on capital gains.

“Every promise to Connecticut taxpayers have been broken since the legislature voted for a state income tax (a death-knell for jobs) only because of a promise to lower capital gains tax, phase out other taxes, and enact a state spending cap to prevent runaway budgets. It’s been more than 25 years and the legislature – under a Democrat majority – still did not implemented the promised spending cap. Even during surplus years, Democrats broke their promise to phase out the inheritance tax, the gross receipt gas tax, the real estate conveyance tax,” she said.

“Democrats do not recognize that they have put us on the path of business and residential exodus. We have to find ways for everyone to succeed. Taxing the upper middle class more, including capital gains, will push more of them out. This will reduce tax revenues more and hurt those at lower economic levels. We need to raise the economic tide so that all boats can rise, not sink. We have to stop taxing people out of our state.”

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