Connecticut Lawmakers Clash on Tax Policy at Hearing

At a Connecticut General Assembly hearing Thursday, state lawmakers clashed on visions of tax policy, with Republicans pressing for sales-tax reduction and Democrats advocating a mix of tax increases and targeted relief.

According to the nonprofit Tax Foundation, 12.8 percent of Connecticut residents’ income goes to government coffers, making the combined state and local tax take the second-highest in the U.S., just behind New York’s 14.1 percent overall burden.

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Florida’s May Revenues Exceed Expectations

Florida’s Historic Capitol and Florida State Capitol

State revenue projections for Florida in May have exceeded expectations, according to a new report from state economists. May’s state income reflected a tenth straight month of revenue exceeding state projections, which economists say is a good sign despite the cost of products and goods going up. 

The Florida Legislature’s Office of Economic & Demographic Research announced $3.6 billion in general revenue. The original projections had the state raking in over one-half million dollars less.

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DeSantis Signs E-Fairness Bill

Just before midnight Monday, Florida Governor Ron DeSantis signed SB 50 instituting sales tax requirements for online retailers, into law. 

The bill requires out-of-state online retailers to collect and report sales taxes on purchases made by Floridians. The tax will bring in an estimated $1 billion in revenue, as well as limit taxes paid by Floridians and Florida businesses.

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