Democratic lawmakers ask Lamont to back capital gains tax

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Connecticut Governor Ned Lamont

In this Wednesday, Feb. 20, 2019 photo, Connecticut Gov. Ned Lamont delivers his budget address at the State Capitol in Hartford, Conn. The Democrat’s proposed two-year, $43 billion plan sets the stage for months of negotiations on hot-button topics, ranging from what goods and services should be taxed to whether cities and towns should pick […]

More than five dozen Democratic state representatives and senators are asking Gov. Ned Lamont to support a surcharge on capital gains income earned by wealthy Connecticut taxpayers.

Sixty-three lawmakers sent a letter on Thursday to the Democrat, insisting the surcharge does not penalize the wealthy, but rather “makes our system fairer and more equitable.” They’re suggesting couples earning more than $1 million annually and individuals earning more than $500,000 should pay the 2% capital gains tax.

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The request comes as closed-door negotiations continue on a new, two-year state budget.

A spokeswoman for Lamont says the governor “remains consistent in his opposition to increasing the capital gains rate.” She says Lamont instead supports tax policies that don’t encourage people to leave Connecticut or limit the state’s ability to expand economic opportunity.

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