NEW HAVEN, Conn. (WTNH) — The Republican ticket in the race for governor is throwing down a marker, offering $2 billion in tax relief with another $1 billion to come.
The funds will come out of the state surplus.
Just steps from his boyhood home in Newhallville in New Haven, Republican candidate for governor Bob Stefanowski unveiled his ticket’s $3 billion tax relief plan, called Connecticut First.
“We’re going to take $3 billion and, through a variety of reforms, we’re going to give it back to the people of Connecticut, where it is deserved,” he said.
The plan includes targeted tax cuts on food, gas, and the state’s sales tax.
Some proposed cuts are permanent, some temporary, with Republicans claiming each family, would save $2,000.
There’s also big property tax relief, including up to a $10,000 state SALT deduction, which would replace federal deductions that were taken away.
“I can’t control what happens in Washington, but I can change what happens in Connecticut,” Stefanowski said.
The plan does not include a change to the vehicle tax.
The $10,000 deduction means that someone who makes $100,000 would only be taxed for $90,000 in income. Republicans said the plan would save people $600.
The proposal would include setting aside money for pension obligations and any recessions.
“What I hope is that we can come together and look at what is the best thing for the State of Connecticut,” said Laura Devlin, the Republican candidate for lieutenant governor.
Proponents said that the plan would boost businesses through reforms such as the state repaying the unemployment insurance trust loan so that employers don’t have to.
Charles Murphy, who owns Visels Pharmacy in New Haven, is in favor of the idea.
“It’s either we go forward for change for the better, or we are going to keep going backward, man,” he said.
Democratic Rep. Josh Elliott defended Gov. Ned Lamont’s $650 million in tax cuts.
“Noto everything Bob says is going to be defacto wrong, but the thing is the way he is coming at it — saying the Democrats have done nothing for you, the state legislature is lacking and the governor isn’t listening,” he said. “All of those things are wrong.”
Elliott said Lamont has helped seniors by not taxing social security, 401Ks, and pensions.